Published on 2/1/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.72 million capped buffer gears on Financial Select Sector SPDR fund
By Wendy Van Sickle
Columbus, Ohio, Feb. 1 – Barclays Bank plc priced $1.72 million of 0% capped buffer gears due Feb. 28, 2018 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is greater than zero, the payout at maturity will be par of $10 plus 2 times the fund return, subject to a maximum return of 10.8%. Investors will receive par if the fund declines by 10% or less and lose 1% for every 1% that the ETF declines beyond 10%.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Capped buffer gears
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Underlying ETF: | Financial Select Sector SPDR fund
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Amount: | $1,724,900
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Maturity: | Feb. 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the fund return is greater than zero, par plus 2 times the fund return, subject to a maximum return of 10.8%; par if the fund declines by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial price: | $23.74
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Downside threshold: | 90% of initial price
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agents: | UBS Financial Services Inc. and Barclays Capital Inc.
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Fees: | 0.5%
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Cusip: | 06745R271
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