Published on 7/22/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $600,000 buffered market-linked notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 22 – Barclays Bank plc priced $600,000 of 0% market-linked notes with leveraged upside participation fixed-percentage buffered downside due July 22, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return.
If the index falls by up to 20%, the payout will be par.
If the index falls by more than 20%, investors will lose 1% for every 1% decline of the index beyond 20%.
Barclays and Wells Fargo Securities, LLC are the agents.
Issuer: | Barclays Bank plc
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Issue: | Market-linked notes with upside participation and fixed-percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $600,000
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Maturity: | July 22, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final index level is greater than the initial index level, par plus index return; if the index falls by up to 20%, par; if the index falls by more than 20%, 1% loss for every 1% decline of the index beyond 20%
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Initial level: | 3,224.73
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Buffer level: | 2,579.784, 80% of initial level
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Pricing date: | July 17
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Settlement date: | July 22
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Agents: | Barclays and Wells Fargo Securities, LLC
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Fees: | 4.52%
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Cusip: | 06747Q6M4
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