By Wendy Van Sickle
Columbus, Ohio, May 14 – Barclays Bank plc priced $500,000 of 0% bearish notes due Nov. 17, 2021 based on the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the final index level is greater than the barrier value, 120% of the initial level, the payout at maturity will be par minus 1% for every 1% gain of the index from its initial level.
If the index gains by up to 20%, the payout will be par.
Investors will receive par plus 1.5% for every 1% loss of the index, subject to a maximum payout of par plus 21.75%.
Barclays is the underwriter, with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Bearish notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $500,000
|
| Maturity: | Nov. 17, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains by more than 20%, par minus 1% for each 1% gain; par if index gains up to 20%; 1.5% gain per 1% index decline up to maximum payout of par plus 21.75%
|
| Initial value: | 1,275.536
|
| Barrier level: | 1,530.64, 120% of initial level
|
| Pricing date: | May 12
|
| Settlement date: | May 15
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06747PTA7
|
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