Published on 8/31/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $25.65 million Capped Leveraged Index Return Notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – Barclays Bank plc priced $25.65 million of 0% Capped Leveraged Index Return Notes due Aug. 28, 2020 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average 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 positive, the payout at maturity will be par plus double the basket return, subject to a maximum return of 36.5%.
If the basket falls by up to 10%, the payout will be par.
Investors will lose 1% for each 1% decline beyond 10%.
BofA Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Capped Leveraged Index Return Notes
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| Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight), Hang Seng (5% weight)
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| Amount: | $25,654,450
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| Maturity: | Aug. 28, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 200% of any basket gain, up to maximum gain of 36.5%; par if basket falls by up to 10%; otherwise, 1% loss for every 1% decline beyond 10%
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| Initial index levels: | 3,430.99 for Stoxx, 7,516.03 for FTSE, 22,869.5 for Nikkei, 9,042.06 for Swiss, 6,351.762 for S&P/ASX, 28,164.05 for Hang Seng
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| Threshold level: | 90% of initial level
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| Pricing date: | Aug. 30
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| Settlement date: | Sept. 7
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| Agent: | BofA Merrill Lynch
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| Fees: | 2%
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| Cusip: | 06746T342
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