Published on 10/9/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.01 million contingent barrier notes on S&P 500
By Sarah Lizee
Olympia, Wash., Oct. 9 – Barclays Bank plc priced $1.01 million of 0% contingent barrier notes due April 8, 2020 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 any index gain.
If the index finishes flat or falls but finishes at or above the 85.25% barrier level, the payout will be par.
Otherwise, investors will be fully exposed to the decline from the initial level.
Barclays is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Barclays Bank plc
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Issue: | Contingent barrier notes
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Underlying index: | S&P 500
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Amount: | $1.01 million
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Maturity: | April 8, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; if index finishes flat or falls but finishes at or above the barrier level, par; otherwise, full exposure to the decline from the initial level
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Initial level: | 2,885.57
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Barrier level: | 2,459.95, 85.25% of initial level
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Pricing date: | Oct. 5
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Settlement date: | Oct. 11
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Underwriter: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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Fees: | 1.25%
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Cusip: | 06746XTN3
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