New Issue: Barclays sells $808,000 dual directional notes tied to S&P, PowerShares QQQ

By Wendy Van Sickle

Columbus, Ohio, July 31 – Barclays Bank plc priced $808,000 of 0% dual directional notes due July 27, 2021 linked to the lesser performing of the S&P 500 index and the PowerShares QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.26 times any gain in the lesser performing asset.

If the lesser performing asset falls by up to 15%, the payout will be par plus the absolute value of the return of the lesser performing asset.

If the lesser performing asset falls by more than 15%, investors will lose 1% for each 1% decline of the worse performing asset beyond 15%.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Dual directional notes
Underlying assets:	S&P 500, PowerShares QQQ Trust, series 1
Amount:	$808,000
Maturity:	July 27, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.26 times any gain in the lesser performing asset; if lesser performing asset falls by up to 15%, par plus the absolute value of the return of the lesser performing asset; otherwise, 1% loss for each 1% decline of the worse performing asset beyond 15%
Initial levels:	2,820.4 for S&P, $180.30 for PowerShares
Pricing date:	July 24
Settlement date:	July 27
Agent:	Barclays
Fees:	0.7%
Cusip:	06746XJW4

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.