Published on 8/7/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.77 million barrier SuperTrack notes on gold, silver ETFs
By Sarah Lizee
Olympia, Wash., Aug. 7 – Barclays Bank plc priced $1.77 million of 0% SuperTrack notes due Aug. 1, 2025 linked to the SPDR Gold Trust and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If each ETF finishes at or above its initial level, the payout at maturity will be par plus 2.7 times the gain of the worse performing ETF.
If either ETF falls by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worse performing ETF.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered SuperTrack notes
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Underlying ETFs: | SPDR Gold Trust and iShares Silver Trust
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Amount: | $1,767,000
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Maturity: | Aug. 1, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each ETF gains, par plus 2.7 times return of worse performing ETF; par if either ETF falls by up to 30%; otherwise, 1% loss per 1% decline of worse performing ETF
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Initial levels: | $185.13 for gold fund, $22.57 for silver fund
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Barrier level: | $129.59 for gold fund, $15.80 for silver fund, 70% of initial levels
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Pricing date: | July 29
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Settlement date: | Aug. 3
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06747QBP1
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