Published on 7/24/2018 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.46 million dual directional notes tied to S&P, Stoxx
By Sarah Lizee
Olympia, Wash., July 24 – Barclays Bank plc priced $1.46 million of 0% dual directional notes due July 23, 2020 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 2.1 times any gain in the lesser performing index.
If the lesser performing index falls by up to 15%, the payout will be par plus the absolute value of the return of the lesser performing index.
If the lesser performing index falls by more than 15%, investors will lose 1% for each 1% decline of the worse performing index beyond 15%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Dual directional notes
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Underlying indexes: | S&P 500, Euro Stoxx 50
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Amount: | $1,464,000
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Maturity: | July 23, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2.1 times any gain in the lesser performing index; if lesser performing index falls by up to 15%, par plus the absolute value of the return of the lesser performing index; otherwise, 1% loss for each 1% decline of the worse performing index beyond 15%
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Initial level: | 2,801.83 for S&P, 3,460.03 for Stoxx
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Pricing date: | July 20
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Settlement date: | July 25
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Agent: | Barclays
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Fees: | 0.8%
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Cusip: | 06746XJA2
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