Published on 12/23/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $44.24 million absolute return buffer notes on basket
By Devika Patel
Knoxville, Tenn., Dec. 23 – Barclays Bank plc priced $44.24 million of 0% notes with absolute return buffer due Dec. 30, 2022 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 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 positive, the payout at maturity will be par of $10 plus 123.75% of the basket gain.
If the basket falls by up to 15%, the payout will be par plus the absolute value of the basket return.
Investors will be exposed to any basket decline beyond 15%.
BofA Securities, Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Notes with absolute return buffer
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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: | $44,240,600
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Maturity: | Dec. 30, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 123.75% of any basket gain; if basket falls by up to 15%, par plus absolute value of basket return; exposure to any basket decline beyond 15%
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Initial index levels: | 3,739.17 for Stoxx, 7,573.82 for FTSE, 23,864.85 for Nikkei, 10,575.15 for Swiss, 6,833.114 for S&P/ASX and 27,800.49 for Hang Seng
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Final levels: | For each index, average of closing values on five trading days ending Dec. 23, 2022
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Pricing date: | Dec. 19
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Settlement date: | Dec. 27
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Agent: | BofA Securities, Inc.
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Fees: | 2.25%
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Cusip: | 06747E757
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