Published on 6/18/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.56 million trigger gears linked to basket of indexes
By Wendy Van Sickle
Columbus, Ohio, June 18 – Barclays Bank plc priced $1.56 million of 0% trigger gears due June 17, 2025 linked to an unequally weighted basket of six indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 1.7525 times the basket return.
Investors will receive par if the basket declines by 25% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 25%.
Barclays and UBS Financial Services Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger gears
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Underlying indexes: | Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight
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Amount: | $1,561,230
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Maturity: | June 17, 2025
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Price: | Par of $10
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Payout at maturity: | Par plus 1.7525 times the basket return if the basket return is positive; par if the basket declines by up to 25%; full exposures to losses if basket declines beyond 25%
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Initial levels: | 3,153.74 for Stoxx, 22,305.48 for Nikkei, 6,105.18 for FTSE, 5,847.813 for ASX, 9,796.37 for Swiss and 24,301.38 for Hang Seng
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Downside thresholds: | 75% of initial levels
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Pricing date: | June 12
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Settlement date: | June 17
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 06747H479
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