Published on 10/20/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $7.73 million buffered dual directional notes on S&P, Dow
By William Gullotti
Buffalo, N.Y., Oct. 20 – Barclays Bank plc priced $7.73 million of 0% buffered dual directional notes due Oct. 19, 2023 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the lesser performing index up to a maximum payout of par plus 100%.
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, Dow Jones industrial average
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Amount: | $7,728,000
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Maturity: | Oct. 19, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain in lesser performing index, subject to a maximum payout of $2,000 per $1,000 principal amount of notes; if lesser performing index falls by up to 10%, par plus the absolute value of that index’s return; lose 1% for every 1% decline of worst performer beyond 10%
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Initial levels: | 4,470.15 for S&P, 35,294.76 for Dow
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Buffer values: | 4,023.14 for S&P, 31,765.28 for Dow; 90% of initial levels
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Pricing date: | Oct. 15
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Settlement date: | Oct. 20
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Agent: | Barclays
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Fees: | 0.15%
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Cusip: | 06748WJN4
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