Published on 8/30/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $6.58 million five-year trigger gears tied to S&P 500
By Sarah Lizee
Olympia, Wash., Aug. 30 – Barclays Bank plc priced $6.58 million of 0% trigger gears due Aug. 31, 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 1.23 times any index gain.
If the index falls by up to 40%, the payout will be par.
If the index finishes below the 60% downside threshold, investors will be fully exposed to any losses.
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: | $6,576,600
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Maturity: | Aug. 31, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.23 times any index gain; par if index falls by up to 40%; otherwise, 1% loss for each 1% decline
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Initial index level: | 2,897.52
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Downside threshold: | 1,738.51, 60% of initial level
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 06746T177
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