Published on 1/26/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4 million five-year buffer gears linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 26 – Barclays Bank plc priced $4 million of 0% buffer gears due Jan. 24, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.12 times the index return. If the index falls by up to 25%, the payout will be par. Investors will lose 1% for every 1% decline beyond the 25% buffer.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Buffer gears
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Underlying index: | S&P 500
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Amount: | $4 million
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Maturity: | Jan. 24, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.12 times any index gain; par if index falls by up to 25%; 1% loss for every 1% decline beyond the 25% buffer
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Initial value: | 2,810.30
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Downside threshold: | 2,107.73, 75% of initial value
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Pricing date: | Jan. 19
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Settlement date: | Jan. 24
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 06746P191
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