Published on 6/27/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.62 million dual directional notes on S&P, Russell
By Marisa Wong
Morgantown, W.Va., June 27 – Barclays Bank plc priced $2.62 million of 0% capped dual directional notes due Dec. 18, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.05 times any gain in the lesser performing index, capped at 29.4%.
If the lesser performing index falls by up to 20%, the payout will be par plus the absolute value of the return of the lesser performing index.
If the lesser performing index falls by more than 20%, investors will lose 1% for each 1% decline of the worse performing index beyond 20%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Capped dual directional notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $2,624,000
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Maturity: | Dec. 18, 2020
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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 the lesser performing index, capped at 29.4%; if lesser performing index falls by up to 20%, par plus the absolute value of the return of the lesser performing index; otherwise, 1% loss for each 1% decline of the worse performing index beyond 20%
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Initial level: | 2,779.42 for S&P, 1,683.91 for Russell
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Pricing date: | June 18
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Settlement date: | June 21
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Agent: | Barclays
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Fees: | 0.5%
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Cusip: | 06746XFM0
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