Published on 6/10/2016 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $182,000 dual directional notes linked to Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., June 10 – Barclays Bank plc priced $182,000 of 0% dual directional notes due May 31, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lesser-performing index is greater than its initial level, the payout at maturity will be par plus 1.75 times the return of the lesser-performing index.
If the final level of the lesser-performing index is less than its initial level but greater than or equal to its barrier level, 80% of its initial level, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the final level of the lesser-performing index is less than its barrier level, investors will lose 1% for every 1% that the lesser-performing index’s final level is below its initial level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Dual directional notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $182,000
|
| Maturity: | May 31, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of lesser-performing index is greater than initial level, par plus 1.75 times return of lesser-performing index; if final level of lesser-performing index is less than initial level but greater than or equal to barrier level, par plus absolute value of lesser-performing index’s return; if final level of lesser-performing index is less than barrier level, 1% loss for every 1% that lesser-performing index’s final level is below initial level
|
| Initial levels: | 3,061.60 for Euro Stoxx 50 and 1,141.02 for Russell 2000
|
| Barrier levels: | 2,449.28 for Euro Stoxx 50 and 912.82 for Russell 2000; 80% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | Barclays
|
| Fees: | 2.7%
|
| Cusip: | 06741V3H3
|
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