Published on 4/3/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1 million capped trigger gears linked to basket of indexes
By Sarah Lizee
Olympia, Wash., April 3 – Barclays Bank plc priced $1 million of 0% capped trigger gears due March 31, 2023 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 5 times the basket return up to a maximum payout of $13.125 per $10 security.
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: | Capped 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: | $1,001,000
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| Maturity: | March 31, 2023
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| Price: | Par of $10
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| Payout at maturity: | Par of $10 plus 5 times the basket return up to a maximum payout of $13.125 per $10 security; par if the basket declines by up to 25% and full exposures to losses beyond 25%
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| Initial levels: | 2,728.65 for Stoxx, 19,389.43 for Nikkei, 5,510.33 for FTSE, 4,842.428 for ASX, 8,996.37 for Swiss and 23,484.28 for Hang Seng
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| Downside thresholds: | 75% of initial levels
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| Pricing date: | March 27
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| Settlement date: | March 31
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 06747G695
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