Published on 8/3/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2 million capped buffer in-gears linked to S&P 500
By Marisa Wong
Los Angeles, Aug. 3 – Barclays Bank plc priced $2 million of 0% capped buffer in-gears due Oct. 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above 87% of the initial level, the payout at maturity will be par plus a positive amount equal to 1.12 times the sum of the index return and 13%, up to a maximum payout of par plus 44.8%.
If the index finishes below the 87% downside threshold, investors will lose 1% for every 1% index decline beyond 13%.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Capped buffer in-gears
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Underlying index: | S&P 500
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Amount: | $2 million
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Maturity: | Oct. 3, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index finishes above 87% of the initial level, par plus a positive amount equal to 1.12 times the sum of the index return and 13%, up to a maximum payout of par plus 44.8%; otherwise, 1% loss for every 1% index decline beyond 13%
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Initial level: | Average of index closing levels over three-month period from July 27 to and including Oct. 22
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Final level: | Average of index closing levels over the three-month period from July 2, 2025 to and including Sept. 30, 2025
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Pricing date: | July 29
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Settlement date: | Aug. 3
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 0.75%
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Cusip: | 06747J434
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