Published on 8/31/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2 million capped buffer in-gears tied to S&P, Russell
By Sarah Lizee
Olympia, Wash., Aug. 31 – Barclays Bank plc priced $2 million of 0% capped buffer in-gears due April 3, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the lesser-performing index is greater than negative 16%, the payout at maturity will be par of $10 plus 0.985 times the sum of the lesser-performing index’s return plus 16%, subject to a maximum return of 39.4%.
If the return of the lesser-performing index is less than negative 16%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 16%.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Capped buffer in-gears
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $2 million
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| Maturity: | April 3, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the return of the lesser-performing index is greater than negative 16%, par plus 0.985 times the sum of the lesser-performing index’s return plus 16%, subject to a maximum return of 39.4%; if the return of the lesser-performing index is less than negative 16%, 1% loss for every 1% that the lesser-performing index declines beyond 16%
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| Initial index levels: | For each index, the arithmetic average of the closing levels of that underlying over the initial valuation period, which is each trading day from and including Aug. 21 to and including Nov. 18
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| Downside thresholds: | 84% of initial levels
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 0.75%
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| Cusip: | 06747K878
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