Published on 10/16/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $10.01 million leveraged index return notes with absolute return buffer on basket
By Wendy Van Sickle
Columbus, Ohio, Oct. 16 – Barclays Bank plc priced $10.01 million of 0% leveraged index return notes with absolute return buffer due Oct. 25, 2024 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 60% weight, the Euro Stoxx 50 index with a 16% weight, the FTSE 100 index with an 8% weight, the Nikkei 225 index with an 8% weight, the Swiss Market index with a 3% weight, the S&P/ASX 200 index with a 3% weight and the Hang Seng index with a 2% weight
If the basket finishes at or above the initial level, the payout at maturity will be par plus 150.65% of the gain.
If the basket falls by up to 14%, the payout at maturity will be par plus the absolute value of the basket decline.
If the basket falls by more than 14%, investors will be exposed to any losses beyond the buffer.
BofA Securities, Inc. is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Leveraged Index Return Notes with absolute return buffer
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| Underlying indexes: | S&P 500 index (40% weight), Euro Stoxx 50 index (16% weight), FTSE 100 index (8% weight), Nikkei 225 index (8% weight), Swiss Market index (3% weight), the S&P/ASX 200 index (3% weight) and the Hang Seng index (2% weight)
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| Amount: | $10,007,900
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| Maturity: | Oct. 25, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 150.65% of any basket gain; par if basket falls by up to 14%; otherwise, 1% loss for every 1% decline beyond 14%
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| Initial index levels: | 2,970.27 for S&P, 3,569.92 for Stoxx, 7,247.08 for FTSE, 21,798.87 for Nikkei, 10,017.39 for Swiss, 6,606.807 for S&P/ASX, 26,308.44 for Hang Seng
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| Final basket level: | Average of closing levels on five trading days ending Oct. 22, 2024
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 18
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.5%
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| Cusip: | 06747D858
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