Published on 5/21/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.53 million buffered SuperTrack notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 21 – Barclays Bank plc priced $3.53 million of 0% buffered SuperTrack notes due May 23, 2022 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 1.35 times the lesser-performing index’s return. If the lesser-performing index declines by 10% or less, the payout will be par. Investors will lose 1% for each 1% that the lesser-performing index declines beyond 10%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered SuperTrack notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $3,534,000
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Maturity: | May 23, 2022
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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 1.35 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 buffer level, par; if lesser-performing index’s final level is less than buffer level, 1% loss for every 1% that lesser-performing index declines beyond buffer
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Initial levels: | 2,953.91 for S&P, 1,333.69 for Russell
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Buffer levels: | 2,658.52 for S&P, 1,200.32 for Russell, or 90% of initial levels
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Pricing date: | May 18
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Settlement date: | May 21
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Agent: | Barclays
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Fees: | 0.65%
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Cusip: | 06747PTV1
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