Barclays plans dual directional notes linked to S&P 500, Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Oct. 11 – Barclays Bank plc plans to price 0% dual directional notes due Oct. 31, 2018 linked to the lesser performing of the Russell 2000 index and the S&P 500 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 1.1 to 1.2 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.

The notes will price Oct. 26.

The Cusip number is 06741VCS9.

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