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Barclays plans to price dual directional notes linked to S&P, Russell
By Devika Patel
Knoxville, Tenn., Aug. 1 – Barclays Bank plc plans to price 0% dual directional notes due March 4, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus the lesser-performing index’s return.
If the lesser-performing index’s final level is less than its initial level but greater than or equal to its barrier level, 75% of its initial level, the payout will be par plus the absolute value of lesser-performing index’s return.
If the lesser-performing index’s final level is less than its barrier level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Barclays is the agent.
The notes (Cusip: 06744CEG2) will price on Aug. 31 and settle on Sept. 6.
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