New Issue: Barclays prices $288,000 dual directional notes tied to Russell, S&P 500

By Susanna Moon

Chicago, Oct. 13 – Barclays Bank plc priced $288,000 of 0% dual directional notes due April 3, 2020 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus the gain of the worse performing index.

If either index falls but finishes at or above its 75% barrier level, the payout will be par plus the absolute value of the return of the worse performing index.

Otherwise, investors will lose 1% for each 1% decline of the worse performing index.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Dual directional notes
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$288,000
Maturity:	April 3, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus return of worse performing index; if either index falls by up to 75% barrier, par plus the absolute return of worse performing index; otherwise, 1% loss for each 1% decline of worse performing index
Initial levels:	1,490.861 for Russell, 2,519.36 for S&P
Barriers:	1,118.15 for Russell, 1,889.52 for S&P; 75% of initial levels
Pricing date:	Sept. 29
Settlement date:	Oct. 4
Agent:	Barclays
Fees:	1.75%
Cusip:	06744C2N0

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.