Published on 8/4/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.52 million trigger PLUS linked to indexes, ETF
By Angela McDaniels
Tacoma, Wash., Aug. 4 – Barclays Bank plc priced $1.52 million of 0% trigger Performance Leveraged Upside Securities due Feb. 5, 2018 linked to a basket of two indexes and one exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the S&P 500 index, the Euro Stoxx 50 index and the WisdomTree Japan Hedged equity fund.
If the basket return is positive, the payout at maturity will be par of $10 plus 200% of the basket return, subject to a maximum return of 40%. Investors will receive par if the basket falls by 10% or less and will be fully exposed to the basket’s decline if it finishes below the 90% trigger level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
Issuer: | Barclays Bank plc
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying basket: | S&P 500 index, Euro Stoxx 50 index and WisdomTree Japan Hedged equity fund, equally weighted
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Amount: | $1,520,220
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Maturity: | Feb. 5, 2018
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus 200% of any basket gain, capped at 40%; par if basket falls by 10% or less; otherwise, full exposure to basket’s decline
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Initial levels: | 1,930.67 for S&P 500; 3,115.51 for Euro Stoxx 50; $49.97 for ETF
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Trigger level: | 90% of basket’s initial level
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Pricing date: | July 31
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Settlement date: | Aug. 5
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Agent: | Barclays
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3%
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Cusip: | 06742W455
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