Published on 4/17/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.85 million barrier SuperTrack notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, April 17 – Barclays Bank plc priced $1.85 million of 0% barrier SuperTrack notes due April 18, 2024 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 lesser-performing index’s return is positive, the payout at maturity will be par plus 1.48 times the lesser-performing index’s return. If the lesser-performing index declines by 35% or less, the payout will be par. If it declines by more than 35%, investors will lose 1% for each 1% that the lesser-performing index declines from its initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Barrier SuperTrack notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1.85 million
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Maturity: | April 18, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing index’s return is positive, par plus 1.48 times lesser-performing index’s return; if lesser-performing index’s final level is less than or equal to initial level but greater than or equal to barrier level, par; if lesser-performing index’s final level is less than barrier level, 1% loss for every 1% that lesser-performing index declines from initial level
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Initial levels: | 2,846.06 for S&P and 1,237.33 for Russell
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Barrier levels: | 1,849.94 for S&P and 804.26 for Russell; 65% of initial levels
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Pricing date: | April 14
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Settlement date: | April 17
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Agent: | Barclays
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Fees: | 1.85%
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Cusip: | 06747PLQ0
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