Published on 1/5/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $5 million buffered participation notes tied to S&P MidCap 400
By Wendy Van Sickle
Columbus, Ohio, Jan. 5 – Barclays Bank plc priced $5 million of 0% buffered participation securities due Jan. 3, 2020 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a maximum return of 16%.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond the buffer.
Barclays is the agent with Morgan Stanley Wealth Management as the dealer.
Issuer: | Barclays Bank plc
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Issue: | Buffered participation securities
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Underlying index: | S&P MidCap 400
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Amount: | $5 million
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Maturity: | Jan. 3, 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, capped at 16%; par for losses up to 10%; 1% loss for each 1% drop beyond 10%
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Initial level: | 1,911.28
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Buffer level: | 1,720.152, 90% of initial level
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Pricing date: | Dec. 28
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Settlement date: | Jan. 3
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Agent: | Barclays with Morgan Stanley Wealth Management as dealer
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Fees: | 1.85%
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Cusip: | 06746P779
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