Published on 8/7/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $7.26 million five-year trigger gears linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – Barclays Bank plc priced $7.26 million of 0% trigger gears due July 31, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.19 times any index gain.
If the index finishes flat or falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the index declines below the initial level.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger gears
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Underlying index: | S&P 500
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Amount: | $7,261,380
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Maturity: | July 31, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.19 times any index gain; par if index finishes flat or falls by up to 25%; otherwise, full exposure to any index decline
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Initial level: | 3,218.44
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Downside threshold: | 2,413.83, 75% of initial level
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Pricing date: | July 28
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Settlement date: | July 31
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 3.5%
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Cusip: | 06747J541
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