New Issue: Barclays prices $2.5 million dual directional notes linked to S&P, Russell

By Sarah Lizee

Olympia, Wash., Aug. 6 – Barclays Bank plc priced $2.5 million of 0% dual directional notes due Jan. 31, 2022 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.

If the lesser-performing index’s return is greater than zero, the payout at maturity will be par plus 1.05 times the return of the lesser-performing index.

If the lesser-performing index’s return is less than or equal to zero but greater than or equal to negative 15%, the payout will be par plus the absolute value of the lesser-performing index’s return.

If the lesser-performing index’s return is less than negative 15%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 15%.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Dual directional notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$2,495,000
Maturity:	Jan. 31, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If lesser-performing index’s return is greater than zero, par plus 1.05 times return of lesser-performing index; if lesser-performing index’s return is less than or equal to zero but greater than or equal to negative 15%, par plus absolute value of lesser-performing index’s return; if lesser-performing index’s return is less than negative 15%, 1% loss for every 1% that lesser-performing index declines beyond 15%
Initial levels:	2,980.38 for S&P 500 and 1,574.61 for Russell 2000
Pricing date:	July 31
Settlement date:	Aug. 5
Agent:	Barclays
Fees:	1.25%
Cusip:	06747N2Z6

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