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Barclays plans buffered dual directional notes tied to S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, March 8 – Barclays Bank plc plans to price 0% buffered dual directional notes due March 20, 2023 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 2.85 times any gain of the lesser-performing index, capped at par plus 40%.
If the lesser-performing index falls by up to 15%, the payout will be par plus the absolute value of its return.
Investors will lose 1% for every 1% decline beyond 15%.
Barclays is the agent.
The notes will price on March 15 and settle on March 20.
The Cusip is 06747MHW9.
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