Published on 12/11/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $850,000 digital plus notes linked to S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Dec. 11 – Barclays Bank plc priced $850,000 of 0% digital plus notes due Aug. 31, 2023 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus the greater of 17.5% and the lesser-performing index’s return.
If the lesser-performing index’s final level is less than its initial level but greater than or equal to its barrier value, 75% of its initial level, the payout at maturity will be par.
If the lesser-performing index’s final level is less than its barrier value, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Digital plus notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index
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| Amount: | $850,000
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| Maturity: | Aug. 31, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser-performing index’s final level is greater than or equal to initial level, par plus greater of 17.5% and lesser-performing index’s return; if lesser-performing index’s final level is less than initial level but greater than or equal to barrier value, par; if lesser-performing index’s final level is less than barrier value, 1% loss for every 1% that lesser-performing index declines from initial level
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| Initial levels: | 3,621.63 for S&P, 12,268.32 for Nasdaq
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| Barrier values: | 2,716.22 for S&P, 9,201.24 for Nasdaq, or 75% of initial levels
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| ricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Agent: | Barclays
|
| Fees: | 1.85%
|
| Cusip: | 06747QNX1
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