Published on 6/13/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $564,000 market-linked notes tied to ETF basket
By Wendy Van Sickle
Columbus, Ohio, June 13 – Barclays Bank plc priced $564,000 of 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due June 5, 2023 linked to an equally weighted basket of five exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Consumer Discretionary Select Sector SPDR fund, the Financial Select Sector SPDR fund, the Health Care Select Sector SPDR fund, the Industrial Select Sector SPDR fund and the Technology Select Sector SPDR fund, each with a 20% weight.
The payout at maturity will be par plus 1.25 times any basket gain, capped at par plus 37%. Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.
Barclays Capital Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside
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| Underlying basket: | Consumer Discretionary Select Sector SPDR fund, Financial Select Sector SPDR fund, Health Care Select Sector SPDR fund, Industrial Select Sector SPDR fund and Technology Select Sector SPDR fund; 20% weights each
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| Amount: | $564,000
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| Maturity: | June 5, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.25 times any basket gain, capped at par plus 37%; par if basket falls by up to 10%; 1% loss for every 1% decline beyond 10% buffer
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| Initial values: | $110.94 for Consumer, $26.01 for Financial, $87.28 for Health Care, $72.05 for Industrial, $71.89 for Technology
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agents: | Barclays Capital Inc. and Wells Fargo Securities, LLC
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| Fees: | 3.05%
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| Cusip: | 06747MRV0
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