New Issue: Barclays sells $800,000 dual directional notes tied to Russell, S&P 500

By Susanna Moon

Chicago, April 4 – Barclays Bank plc priced $800,000 of 0% dual directional notes due Oct. 5, 2020 linked to the least performing of the S&P 500 index and the Russell 2000 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 1.05 times the gain of the worse performing index.

If either index falls by up to its 85% 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 beyond the buffer.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Dual directional notes
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$800,000
Maturity:	Oct. 5, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 1.05 times return of worse performing index; if either index falls by up to 15%, par plus absolute return of worse performing index; otherwise, 1% loss for each 1% decline of worse performing index beyond 15%
Initial prices:	1,513.03 for Russell and 2,605 for S&P
Pricing date:	March 28
Settlement date:	April 3
Agent:	Barclays
Fees:	1.25%
Cusip:	06744CXY2

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