Published on 12/6/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.75 million 3.6% buffered fixed-coupon notes on Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – Barclays Bank plc priced $2.75 million of 3.6% buffered fixed-coupon notes due Nov. 29, 2024 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 share in losses at a rate of 1% per 1% drop 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: | $2,752,000
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Maturity: | Nov. 29, 2024
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Coupon: | 3.6%, payable quarterly
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Price: | Par
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Payout at maturity: | If index finishes at or above 85% of initial level, par; otherwise, 1% loss for every 1% decline of index beyond 15%
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Initial levels: | 1,621.9
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Buffer level: | 1,378.62, 85% of initial level
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Pricing date: | Nov. 25
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Settlement date: | Nov. 29
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Underwriter: | Barclays
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Fees: | 3.33%
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Cusip: | 06747NNQ3
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