Published on 9/9/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.25 million dual directional notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 9 – Barclays Bank plc priced $1.25 million of 0% dual directional notes due Feb. 28, 2022 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 return is greater than zero, the payout at maturity will be par plus 1.03 times the return of the lesser-performing index.
If the lesser-performing index’s return is less than or equal to zero but greater than or equal to negative 15%, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the lesser-performing index’s return is less than negative 15%, investors will lose 1% for every 1% that the lesser-performing index declines 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 and Russell 2000
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Amount: | $1,246,000
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Maturity: | Feb. 28, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If lesser-performing index’s return is greater than zero, par plus 1.03 times return of lesser-performing index; if lesser-performing index’s return is less than or equal to zero but greater than or equal to negative 15%, par plus absolute value of lesser-performing index’s return; if lesser-performing index’s return is less than negative 15%, 1% loss for every 1% that lesser-performing index declines beyond 15%
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Initial levels: | 2,926.46 for S&P 500 and 1,494.84 for Russell 2000
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Pricing date: | Aug. 30
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Settlement date: | Sept. 5
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Agent: | Barclays
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Fees: | 1.25%
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Cusip: | 06747NB78
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