Published on 1/2/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $10.67 million capped gears tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – Barclays Bank plc priced $10.67 million of 0% capped gears due Feb. 28, 2022 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 3 times any index gain, capped at $11.31 per $10 note.
Investors will be fully exposed to any index decline.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Capped gears
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| Underlying index: | S&P 500
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| Amount: | $10,670,930
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| Maturity: | Feb. 28, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 3 times any index gain, capped at par plus 13.1%; full exposure to losses
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| Initial level: | 3,735.36
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 31
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| Agents: | UBS Financial Services Inc. and Barclays
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| Fees: | 2%
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| Cusip: | 06747L496
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