Published on 5/13/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $135,000 notes linked to Dow, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, May 13 – Barclays Bank plc priced $135,000 of notes due May 13, 2024, linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 4.5% if each asset closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
If each asset finishes at or above its final barrier level, 70% of its initial level, the payout at maturity will be par plus the coupon, if any. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the underwriter.
Issuer: | Barclays Bank plc
|
Issue: | Notes
|
Underlying assets: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
|
Amount: | $135,000
|
Maturity: | May 13, 2024
|
Contingent coupon: | 4.5% per year, payable quarterly if each asset closes at or above coupon barrier on the valuation date for that period
|
Price: | Par
|
Payout at maturity: | If each asset finishes at or above final barrier, par plus coupon, if any; otherwise, full exposure to losses of least-performing asset
|
Initial level: | 24,331.32 for Dow, 2,929.8 for S&P and 1,329.64 for Russell
|
Coupon barriers: | 17,031.92 for Dow, 2,050.86 for S&P and 930.75 for Russell; 70% of initial levels
|
Final barriers: | 17,031.92 for Dow, 2,050.86 for S&P and 930.75 for Russell; 70% of initial levels
|
Pricing date: | May 8
|
Settlement date: | May 13
|
Underwriter: | Barclays
|
Fees: | 1%
|
Cusip: | 06747PQY8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.