Published on 12/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $10.77 million leveraged market-linked step-up notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – Barclays Bank plc priced $10.77 million of leveraged market-linked step-up notes due Dec. 30, 2022 linked to a global equity basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 50% weight, the Euro Stoxx 50 index with a 20% weight, the FTSE 100 index with a 10% weight, the Nikkei Stock Average index with a 10% weight, the Swiss Market index with a 3.75% weight, the S&P/ASX 200 index with a 3.75% weight and the Hang Seng index with a 2.5% weight.
If the basket finishes above the step-up value, 118% of the initial level, the payout at maturity will be par of $10 plus 165% of the basket gain.
If the basket gains by up to the step-up level, the payout will be par plus the step-up payment of 18%.
Investors will be fully exposed to any basket decline.
BofA Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Leveraged market-linked step-up notes
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| Underlying basket: | S&P 500 (50% weight), Euro Stoxx 50 (20% weight), FTSE 100 (10% weight), Nikkei 225 (10% weight), Swiss Market (3.75% weight), S&P/ASX 200 (3.75% weight) and Hang Seng (2.5% weight)
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| Amount: | $10,769,800
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| Maturity: | Dec. 30, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes above the step-up value, par plus 165% of the basket gain; if the basket gains by up to the step-up level, par plus the step-up payment of 18%; otherwise, investors will be fully exposed to any basket decline
|
| Initial index levels: | 3,205.37 for S&P, 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, 27,800.49 for Hang Seng
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 30
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| Agent: | BofA Merrill Lynch
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| Fees: | 2.25%
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| Cusip: | 06747E773
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