Published on 7/15/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.25 million trigger gears on basket of five indexes
By Kiku Steinfeld
Chicago, July 15 – Barclays Bank plc priced $1.25 million of 0% trigger gears due Dec. 31, 2026 linked to an unequally weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket consists of Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight, the S&P/ASX 200 index with a 7.5% weight.
If the basket return is positive, the payout at maturity will be par plus 2.125 times the basket return.
Investors will receive par if the basket declines by 25% or less and will be fully exposed to the basket’s decline from its initial level if it declines by more than 25%.
Barclays is the agent and UBS Financial Services Inc. is the placement agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger gears
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| Underlying basket: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
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| Amount: | $1,247,410
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| Maturity: | Dec. 31, 2026
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | Par plus 2.125 times any basket gain; par if basket declines by 25% or less; full exposure to basket’s decline from its initial level if it declines by more than 25%
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| Initial levels: | 4,284.83 for Stoxx, 28,906.88 for Nikkei, 7,420.69 for FTSE, 12,926.56 for Swiss Market, 7,509.805 for S&P/ASX
|
| Downside threshold: | 75% of initial value
|
| Pricing date: | Dec. 29
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| Settlement date: | Dec. 31
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| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | None
|
| Cusip: | 06748A689
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