Published on 5/25/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $294,000 buffered dual directional notes on S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, May 25 – Barclays Bank plc priced $294,000 of 0% buffered dual directional notes due Oct. 31, 2023 linked to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus two times any gain in the lesser performing index up to a maximum payout of par plus 24%.
If the lesser performing index falls by up to 10%, the payout will be par plus the absolute value of the return of that index.
Investors will lose 1% for every 1% decline of the lesser performing index beyond 10%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered dual directional notes
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Underlying indexes: | S&P 500 index and Nasdaq-100 index
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Amount: | $294,000
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Maturity: | Oct. 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus two times any gain in lesser performing index, up to par plus 24%; if lesser performing index falls by up to 10% par plus the absolute value of return of that index; exposure to losses of lesser performing index beyond 10%
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Initial levels: | 4,181.17 for S&P, 13,860.76 for Nasdaq
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Buffer values: | 3,763.05 for S&P, 12,474.68 for Nasdaq, 90% of initial levels
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Pricing date: | April 30
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Settlement date: | May 5
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Agent: | Barclays
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Fees: | 1.25%
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Cusip: | 06748EHU0
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