Published on 6/4/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.45 million 3.25% buffered fixed-coupon notes on Russell
By Wendy Van Sickle
Columbus, Ohio, June 4 – Barclays Bank plc priced $4.45 million of 3.25% buffered fixed-coupon notes due May 29, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the asset finishes at or above 85% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% per 1% index decline beyond the 15% buffer.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered fixed-coupon notes
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Underlying index: | Russell 2000 index
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Amount: | $4,446,000
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Maturity: | May 29, 2023
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Coupon: | 3.25%, payable quarterly
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Price: | Par
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Payout at maturity: | If index finishes at or above buffer level, par; otherwise, 1% loss for every 1% decline of index beyond buffer
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Initial level: | 1,393.07
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Buffer level: | 1,184.11, 85% of initial level
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Pricing date: | May 26
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Settlement date: | May 29
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Agent: | Barclays
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Fees: | 3.55%
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Cusip: | 06747PRC5
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