Published on 5/6/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $977,000 notes due 2025 linked to S&P, Russell, Dow
By Kiku Steinfeld
Chicago, May 6 – Barclays Bank plc priced $977,000 of notes due April 29, 2025 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5% if each index closes at or above its 70% coupon barrier on a related observation date.
The payout at maturity will be par plus any gain of the least performing index. If the least performing index closes below its barrier level, 70% of its initial level, investors will be fully exposed to its decline from initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Notes
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Underlying indexes: | Dow Jones industrial average, S&P 500, Russell 2000
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Amount: | $977,000
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Maturity: | April 29, 2025
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Contingent coupon: | 5% annually, payable quarterly if each index closes at or above barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par plus any gain of least performing index; exposure to decline of least performing index if it closes below barrier level
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Initial levels: | 23,775.26 for Dow, 2,836.74 for S&P and 1,233.05 for Russell
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Coupon barrier/barrier levels: | 16,642.69 for Dow, 863.14 for S&P and 863.14 for Russell; 70% of initial levels
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Pricing date: | April 24
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Settlement date: | April 29
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Agent: | Barclays
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Fees: | 1.125%
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Cusip: | 06747PNN5
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