Published on 8/10/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.42 million digital plus notes on Stoxx Banks, Financial Select
By Kiku Steinfeld
Chicago, Aug. 10 – Barclays Bank plc priced $3.42 million of 0% digital plus notes due Feb. 3, 2023 linked to the lesser performing of the Financial Select Sector index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s final level is greater than its initial level, the payout at maturity will be par of $10 plus 1.4 times the lesser-performing index’s return.
If the lesser-performing index’s final level is less than or equal to its initial level but greater than or equal to its buffer value, 85% of its initial level, the payout at maturity will be par.
If the lesser-performing index’s final level is less than its buffer value, investors will lose 1% for every 1% that the lesser-performing index declines beyond 15%.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Digital plus notes
|
| Underlying indexes: | Financial Select Sector and Euro Stoxx Banks
|
| Amount: | $3,421,000
|
| Maturity: | Feb. 3, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If lesser-performing index’s final level is greater than initial level, be par of $10 plus 1.4 times lesser-performing index’s return; if lesser-performing index’s final level is less than or equal to its initial level but greater than or equal to its buffer value, par; if lesser-performing index’s final level is less than buffer value, 1% loss for every 1% that lesser-performing index declines beyond 15%.
|
| Initial levels: | 295.80 for Financial Select, 58.67 for Euro Stoxx Banks
|
| Buffer values: | 251.43 for Financial Select, 49.8695 for Euro Stoxx Banks, or 85% of initial levels
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 06747J384
|
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