Published on 2/14/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.61 million buffered dual directional notes tied to S&P, Russell
By Sarah Lizee
Olympia, Wash., Feb. 14 – Barclays Bank plc priced $1.61 million of 0% buffered dual directional notes due Aug. 3, 2022 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 the gain of the least performing index.
If the index falls by up to 15%, 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 of the least performing asset beyond 15%.
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: | $1,614,000
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Maturity: | Aug. 3, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain of worse performer; if index falls by up to buffer level, par plus the absolute value of the index return of worse performer; exposure to losses of worse performer beyond buffer
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Initial levels: | 3,273.45 for S&P, 1,649.22 for Russell
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Buffer levels: | 2,782.43 for S&P, 989.53 for Russell, 85% of initial levels
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Pricing date: | Jan. 31
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Settlement date: | Feb. 3
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Agent: | Barclays
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Fees: | 0.5%
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Cusip: | 06747P4C0
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