Published on 6/11/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $44.06 million Leveraged Index Return Notes on indexes
By Wendy Van Sickle
Columbus, Ohio, June 11 – Barclays Bank plc priced $44.06 million of 0% Leveraged Index Return Notes due June 12, 2020 linked to a global equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index (40% weight), the FTSE 100 index (20% weight), the Nikkei 225 index (20% weight), the Swiss Market index (7.5% weight), the S&P/ASX 200 index (7.5% weight) and the Hang Seng index (5% weight)
If the basket return is positive, the payout at maturity will be par plus 179% of the basket gain.
If the basket falls by up to 7%, the payout will be par. Investors will be exposed to any basket decline beyond 7%.
BofA Merrill Lynch is the agent.
Issuer: | Barclays Bank plc
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Issue: | Leveraged Index Return Notes
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Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $44,061,770
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Maturity: | June 12, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 179% of any basket gain; par if basket falls by up to 7%; exposure to losses beyond 7%
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Initial index levels: | 3,459.77 for Euro Stoxx, 7,704.4 for FTSE, 22,823.26 for Nikkei, 8,548.33 for Swiss Market, 6,057.292 for S&P/ASX, 31,512.63 for Hang Seng
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Pricing date: | June 7
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Settlement date: | June 14
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06746R122
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