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Barclays plans to price dual directional notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., Jan. 15 – Barclays Bank plc plans to price 0% dual directional notes due Jan. 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the 1.18 to 1.23 times the index return, with the exact leverage factor to be determined at pricing.
If the index falls but remains at or above the barrier, 70% of the initial level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to any losses.
Barclays is the agent.
The notes will price Jan. 27 and settle Jan. 30.
The Cusip number is 06741UPN8.
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