Published on 2/24/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $735,000 buffered dual directional notes tied to indexes
By Sarah Lizee
Olympia, Wash., Feb. 24 – Barclays Bank plc priced $735,000 of 0% buffered dual directional notes due Feb. 20, 2024 linked to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 2 times the gain of the least performing index, capped at par plus 45%.
If any index falls by up to 20%, the payout will be par plus the absolute value of the index return of the worst performer.
Investors will lose 1% for every 1% decline of the least performing asset beyond 20%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered dual directional notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $735,000
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Maturity: | Feb. 20, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any index gain of worst performer, capped at par plus 45%; if any index falls by up to buffer level, par plus the absolute value of the index return of worst performer; exposure to losses of worst performer beyond buffer
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Initial levels: | 29,398.08 for Dow, 1,687.58 for Russell, 9,623.58 for Nasdaq
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Buffer levels: | 23,518.46 for Dow, 1,350.07 for Russell, 7,698.86 for Nasdaq, 80% of initial levels
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Pricing date: | Feb. 14
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Settlement date: | Feb. 20
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Agent: | Barclays
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Fees: | 0.5%
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Cusip: | 06747PBG3
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