Published on 7/16/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.58 million five-year trigger gears tied to S&P 500
By Marisa Wong
Morgantown, W.Va., July 16 – Barclays Bank plc priced $4.58 million of 0% trigger gears due June 30, 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 1.26 times the index return.
If the index falls by up to 40%, the payout will be par.
Investors will lose 1% for every 1% decline below the initial level if the index finishes below the 60% downside threshold.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger gears
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Underlying index: | S&P 500
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Amount: | $4,578,300
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Maturity: | June 30, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.26 times any index gain; par if index falls by up to 40%; otherwise, full exposure to losses
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Initial index level: | 2,723.06
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Downside threshold: | 1,633.84, 60% of initial level
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Pricing date: | June 26
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Settlement date: | June 29
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 06746T870
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