Published on 7/27/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.39 million contingent buffered notes tied to S&P 500
By Susanna Moon
Chicago, July 27 – Barclays Bank plc priced $1.39 million of 0% contingent buffered notes due Jan. 23, 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 any index gain.
If the index falls by up to the 85.45% barrier level, the payout will be par.
If the index finishes below the barrier, investors will lose 1% for each 1% decline.
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: | Contingent buffered notes
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Underlying index: | S&P 500
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Amount: | $1.39 million
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Maturity: | Jan. 23, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus return; if index falls by up to barrier, par; otherwise, 1% for each 1% decline
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Initial level: | 2,472.54
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Barrier level: | 2,112.79, 85.45% of initial level
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Pricing date: | July 21
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Settlement date: | July 26
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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: | 1.25%
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Cusip: | 06744CCP4
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