Published on 5/15/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.84 million contingent buffered notes on S&P 500
By Marisa Wong
Morgantown, W.Va., May 15 – Barclays Bank plc priced $2.84 million of 0% contingent buffered notes due Oct. 31, 2018 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 any index gain. If the index finishes flat or falls but finishes at or above the 85.2% barrier level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Barclays is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
Issuer: | Barclays Bank plc
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Issue: | Contingent buffered notes
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Underlying index: | S&P 500 index
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Amount: | $2,838,000
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Maturity: | Oct. 31, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; if the index finishes flat or falls but finishes at or above the barrier level, par; otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level
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Initial level: | 2,384.20
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Barrier level: | 2,031.34, 85.2% of initial level
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Pricing date: | April 28
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Settlement date: | May 3
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Underwriter: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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Fees: | 1.25%
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Cusip: | 06741VST0
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