Published on 7/17/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.8 million trigger gears linked to basket of indexes
By Sarah Lizee
Olympia, Wash., July 17 – Barclays Bank plc priced $1.8 million of 0% trigger gears due July 18, 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 1.5465 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
|
| Amount: | $1,796,000
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| Maturity: | July 18, 2025
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.5465 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: | 3,378.21 for Stoxx, 22,945.5 for Nikkei, 6,292.65 for FTSE, 6,052.923 for ASX, 10,460.01 for Swiss and 25,481.58 for Hang Seng
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| Downside thresholds: | 75% of initial levels
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| Pricing date: | July 15
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| Settlement date: | July 20
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 06747J657
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