Published on 5/7/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.73 million capped buffered return enhanced notes on S&P
By Sarah Lizee
Olympia, Wash., May 7 – Barclays Bank plc priced $1.73 million of capped buffered return enhanced notes due Nov. 4, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial value, the payout at maturity will be par plus 2 times any gain with the payout capped at par plus 13.3%.
If the index declines by up to 10%, the payout will be par. Investors will lose 1.1111% for every 1% decline beyond the buffer.
The underwriter is Barclays. The placement agent is J.P. Morgan Securities LLC.
Issuer: | Barclays Bank plc
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Issue: | Capped buffered return enhanced notes
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Underlying index: | S&P 500 index
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Amount: | $1.73 million
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Maturity: | Nov. 4, 2020
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 2 times any index gain, capped at par plus 13.3%; par if index declines by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial value: | 2,945.64
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Buffer level: | 2,651.08; 90% of initial level
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Pricing date: | May 3
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Settlement date: | May 8
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Agent: | Barclays as underwriter, J.P. Morgan Securities LLC as placement agent
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Fees: | 1.25%
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Cusip: | 06747MSX5
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