Published on 11/22/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $544,000 dual directional digital plus notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Nov. 22 – Barclays Bank plc priced $544,000 of 0% dual directional digital plus notes due Nov. 25, 2024 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least-performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus the greater of the least-performing index’s return and 25.5%.
If the least-performing index’s final level is less than its initial level but greater than or equal to its buffer level, 75% of its initial level, the payout will be par plus the absolute value of the least-performing index’s return.
If the least-performing index’s final level is less than its buffer level, investors will lose 1% for every 1% that the least-performing index declines beyond 25%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Dual directional digital plus notes
|
| Underlying indexes: | S&P 500, Dow Jones industrial average and Russell 2000
|
| Amount: | $544,000
|
| Maturity: | Nov. 25, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If least-performing index’s final level is greater than or equal to initial level, par plus greater of least-performing index’s return and 25.5%; if least-performing index’s final level is less than initial level but greater than or equal to buffer level, par plus absolute value of least-performing index’s return; if least-performing index’s final level is less than buffer level, 1% loss for every 1% that least-performing index declines beyond 25%
|
| Initial levels: | 3,108.46 for S&P 500, 27,821.09 for Dow industrials and 1,591.61 for Russell 2000
|
| Buffer levels: | 2,331.34 for S&P 500, 20,865.82 for Dow industrials and 1,193.71 for Russell 2000, or 75% of initial levels
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 25
|
| Agent: | Barclays
|
| Fees: | 1.125%
|
| Cusip: | 06747NRN6
|
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