Published on 4/9/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $720,000 SuperTrack notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., April 9 – Barclays Bank plc priced $720,000 of 0% SuperTrack notes due March 30, 2023 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 1.3 times any gain in the index.
If the index falls by up to 30%, the payout will be par.
If the index falls by more than 30%, investors will lose 1% for every 1% decline below the initial level.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | SuperTrack notes
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Underlying index: | S&P 500
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Amount: | $720,000
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Maturity: | March 30, 2023
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 1.3 times any index gain; par if index falls by up to 30%; otherwise, 1% loss for every 1% decline below initial level
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Initial index level: | 2,658.55
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Barrier level: | 1,860.99, 70% of initial level
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Pricing date: | March 26
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Settlement date: | March 29
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Agent: | Barclays
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Fees: | 2.75%
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Cusip: | 06744CZB0
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