Published on 7/15/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.63 million dual directional notes tied to S&P, Nasdaq
By Sarah Lizee
Olympia, Wash., July 15 – Barclays Bank plc priced $1.63 million of 0% dual directional notes due July 14, 2023 linked to the least 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 1.25 times any gain in the lesser performing index.
If the lesser performing index falls by up to 20%, the payout will be par plus the absolute value of the return of that index.
Investors will lose 1% for every 1% decline of the lesser performing index beyond 20%.
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 index and Nasdaq-100 index
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Amount: | $1,626,000
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Maturity: | July 14, 2023
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 1.25 times any gain in lesser performing index; if lesser performing index falls by up to 20% par plus the absolute value of return of that index; exposure to losses of lesser performing index beyond 20%
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Initial levels: | 2,999.91 for S&P, 7,896.78 for Nasdaq
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Pricing date: | July 11
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Settlement date: | July 16
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Agent: | Barclays
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Fees: | 0.8%
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Cusip: | 06747N5L4
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