Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $297,000 buffered dual directional notes tied to S&P, Russell
Chicago, Feb. 5 – Barclays Bank plc priced $297,000 of 0% buffered dual directional notes due Jan. 28, 2025 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.05 times the gain of the least performing index.
If the index falls by up to 20%, the payout will be par plus the absolute value of the index return of the worse performer.
Investors will lose 1% for every 1% decline beyond 20% of the least performing asset.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered dual directional notes
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Underlying indexes: | S&P 500 index and Russell 2000
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Amount: | $297,000
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Maturity: | Jan. 28, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.05 times any index gain of worse performer; if index falls by up to 20% par plus the absolute value of the index return of worse performer; exposure to losses of worse performer beyond 20%
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Initial levels: | 3,276.24 of S&P, 1,658.31 of Russell
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Buffer levels: | 2,620.99 of S&P, 1,326.65 of Russell, 80% of initial levels
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Agent: | Barclays
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Fees: | 4.35%
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Cusip: | 06747NY24
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