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Published on 2/9/2020 in the Prospect News Structured Products Daily.

New Issue: Barclays sells $809,000 leveraged market-linked notes on ETF basket

By Kiku Steinfeld

Chicago, Feb. 10 – Barclays Bank plc priced $809,000 of 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 5, 2026 linked to a basket of domestic exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the SPDR Dow Jones Industrial Average ETF Trust (60% weight), the SPDR S&P MidCap 400 ETF Trust (20% weight) and the iShares Russell 2000 ETF (20% weight).

The payout at maturity will be par plus 150% of any basket gain, subject to a maximum return of 65%.

Investors will receive par if the basket finishes flat or falls by up to 15% and lose 1% for each 1% decline of the basket beyond 15%.

Wells Fargo Securities, LLC and Barclays are the agents.

Issuer:Barclays Bank plc
Issue:Market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside
Basket components:SPDR Dow Jones Industrial Average ETF Trust (60% weight), SPDR S&P MidCap 400 ETF Trust (20% weight) and iShares Russell 2000 ETF (20% weight)
Amount:$809,000
Maturity:Feb. 5, 2026
Coupon:0%
Price:Par
Payout at maturity:Par plus 150% of any basket gain, subject to a maximum return of 65%; par if basket falls by up to 15%; exposure to decline in basket beyond 15%
Initial prices:$282.42 for SPDR Dow, $365.46 for SPDR S&P, $160.53 for iShares Russell
Buffer prices:85% of initial prices
Pricing date:Jan. 31
Settlement date:Feb. 5
Agents:Wells Fargo Securities, LLC and Barclays
Fees:4.52%
Cusip:06747NXU3

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