Published on 8/30/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $347,000 five-year digital notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 30 – Barclays Bank plc priced $706,000 of 0% digital notes due Aug. 31, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus the high digital return of 45%.
If either index falls but by up to its 70% barrier level, the payout at maturity will be par plus the low digital return of 10%.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Digital notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $347,000
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Maturity: | Aug. 31, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 45%; if either index falls by 30% or less, par plus 10%; otherwise, full exposure to any losses of worse performing index
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Initial levels: | 2,444.24 for S&P and 1,382.23 for Russell
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Barrier levels: | 1,710.97 for S&P and 967.56 for Russell; 70% of initial levels
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agent: | Barclays
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Fees: | 4.125%
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Cusip: | 06744CDY4
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