Published on 7/8/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $16,000 dual directional notes tied to Stoxx, ETF
By Wendy Van Sickle
Columbus, Ohio, July 8 – Barclays Bank plc priced $16,000 of 0% dual directional notes due Jan. 6, 2022 linked to the least performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.05 times any gain in the lesser performing asset.
If the lesser performing index falls by up to 15%, the payout will be par plus the absolute value of the return of that index.
Investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Dual directional notes
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Underlying assets: | Euro Stoxx 50 index and iShares MSCI EAFE ETF
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Amount: | $16,000
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Maturity: | Jan. 6, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.05 times any gain in lesser performing index; if lesser performing index falls by up to 15% par plus the absolute value of return of that index; exposure to losses of lesser performing index beyond 15%
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Initial levels: | 3,473.69 for Stoxx, $65.73 for EAFE ETF
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Buffer level: | 85% of initial values
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Pricing date: | June 28
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Settlement date: | July 3
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Agent: | Barclays
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Fees: | 1.25%
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Cusip: | 06747MWD4
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