Barclays plans to price dual directional notes linked to S&P, Russell

By Sarah Lizee

Olympia, Wash., Aug. 16 – Barclays Bank plc plans to price 0% dual directional notes due Feb. 28, 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 1.03 to 1.05 times the lesser-performing index’s return.

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.

The notes will price Aug. 30.

The Cusip number is 06747NB78.

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