New Issue: Barclays sells $6.1 million buffered dual directional notes on S&P 500

By Kiku Steinfeld

Chicago, Dec. 23 – Barclays Bank plc priced $6.1 million of 0% buffered dual directional notes due Jan. 14, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, capped at 8.55%.

If the final index level is less than or equal to the initial index level but greater than or equal to the buffer value, 90% of the initial index level, the payout will be par plus the absolute value of the index return.

If the final index level is less than the buffer value, investors will lose 1% for every 1% that the index declines beyond 10%.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Buffered dual directional notes
Underlying index:	S&P 500
Amount:	$6.1 million
Maturity:	Jan. 14, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 8.55%; if index finishes flat or falls by up to 10%, par plus absolute value of index return; otherwise, 1% loss for every 1% that index declines beyond 10%
Initial level:	3,663.46
Buffer level:	3,297.11, 90% of initial level
Pricing date:	Dec. 11
Settlement date:	Dec. 16
Agent:	Barclays
Fees:	0.5%
Cusip:	06747QT80

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