Published on 1/27/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2 million capped buffered return notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – Barclays Bank plc priced $2 million of 0% capped buffered return enhanced notes due Jan. 30, 2019 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 plus 1.5 times any index gain, up to a maximum return of 21%.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
Barclays is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
Issuer: | Barclays Bank plc
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Issue: | Capped buffered return enhanced notes
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Underlying index: | S&P 500
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Amount: | $2 million
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Maturity: | Jan. 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at 21%; par if index falls by up to 10%; 1.1111% loss for every 1% drop beyond 10%
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Initial level: | 2,298.37
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Buffer level: | 2,068.53, 90% of initial level
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Pricing date: | Jan. 25
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Settlement date: | Jan. 30
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Agent: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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Fees: | 1.5%
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Cusip: | 06741VJ52
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