Published on 4/13/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5 million of buffered PLUS linked to basket of indexes
By Devika Patel
Knoxville, Tenn., April 13 – Barclays Bank plc priced $5 million of 0% buffered Performance Leveraged Upside Securities due April 16, 2019 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index, with a 60% weight, the Euro Stoxx 50 index, with a 30% weight, and the MSCI Emerging Markets index, with a 10% weight.
If the final basket level is greater than the initial basket level, the payout at maturity will be par plus 150% of the basket return, subject to a maximum payout of $11.20 per $10 of notes. Investors will receive par if the basket declines by 15% or less and will lose 1% for each 1% decline from the basket’s initial level if the basket falls beyond 15%.
Barclays is the agent, with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Barclays Bank plc
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Underlying indexes: | S&P 500 (60% weight), Euro Stoxx 50 (30% weight), MSCI Emerging Markets (10% weight)
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| Amount: | $5 million
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| Maturity: | April 16, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final basket level is greater than initial basket level, par plus 150% of basket return, capped at $11.20 per $10 of notes; if final basket level is less than or equal to initial basket level but greater than or equal to buffer level, par; if final basket level is less than buffer level, 1% loss for each 1% decline from initial basket level
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| Initial levels: | 2,353.78 for S&P, 3,470.04 for Euro Stoxx and 954.44 for MSCI EM
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| Buffer level: | 85% of initial level
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| Pricing date: | April 11
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| Settlement date: | April 18
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| Agents: | Barclays
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| Fees: | 2.5%
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| Cusip: | 06746J674
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