Published on 7/24/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.41 million notes due 2019 linked basket of ETFs
By Wendy Van Sickle
Columbus, Ohio, July 24 – Barclays Bank plc priced $1.41 million of 0% notes due Oct. 17, 2019 linked to an unequally-weighted basket of indexes, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF trust with a 64% weight, the SPDR S&P MidCap 400 ETF with a 22% weight and the iShares Russell 2000 ETF with a 14% weight.
The payout at maturity will be par plus the lesser of any basket gain and 18.2%.
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Notes
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Underlying basket: | SPDR S&P 500 ETF trust (64% weight), SPDR S&P MidCap 400 ETF (22% weight), iShares Russell 2000 ETF (14% weight)
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Amount: | $1.41 million
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Maturity: | Oct. 17, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus lesser of any basket gain and 18.2%; par if basket falls by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial prices: | $276.86 for S&P 500, $32.11 for MidCap, $167.11 for Russell
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Pricing date: | July 11
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Settlement date: | July 16
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Agent: | Barclays
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Fees: | 0%
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Cusip: | 06746XGF4
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