Published on 6/20/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.85 million step-up notes linked to Hang Seng China Enterprises
By Angela McDaniels
Tacoma, Wash., June 20 – Barclays Bank plc priced $4.85 million of 0% market-linked step-up notes due June 25, 2021 linked to the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the step-up value, the payout at maturity will be par of $10 plus the index return. The step-up value is 124.55% of the initial index level.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 24.55%.
If the final index level is less than the initial level, investors will have one-to-one exposure to the decline.
BofA Securities Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Market-linked step-up notes
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Underlying index: | Hang Seng China Enterprises
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Amount: | $4,845,000
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Maturity: | June 25, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 24.55%; if final index level is less than initial level, one-to-one exposure to decline
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Initial level: | 10,507.65
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Step-up value: | 13,087.28, or 124.55% of initial level
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Pricing date: | June 18
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Settlement date: | June 25
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 06747B274
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