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Barclays plans dual directional notes due 2021 tied to S&P, Russell
By Sarah Lizee
Olympia, Wash., Sept. 7 – Barclays Bank plc plans to price 0% dual directional notes due Sept. 30, 2021 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 each index finishes at or above the initial level, the payout at maturity will be par plus the 1 to 1.05 times the gain of the worse performing index.
If either index falls by up to its 75% barrier level, the payout at maturity 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.
The notes will price on Sept. 25 and settle on Sept. 28.
The Cusip number is 06746XPK3.
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