Published on 8/22/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $854,000 dual directional notes tied to Russell, Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, Aug. 22 – Barclays Bank plc priced $854,000 of 0% dual directional notes due Aug. 24, 2023 linked to the least performing of the Dow Jones industrial average, the Russell 2000 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 times any gain in the least performing index, up to a maximum of par plus 43.5%.
If the least 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 least 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: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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Amount: | $854,000
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Maturity: | Aug. 24, 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 2 times any gain in least performing index, up to a maximum of par plus 43.5%; if least performing index falls by up to 20% par plus the absolute value of return of that index; exposure to losses of least performing index beyond 20%
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Initial levels: | 25,962.44 for Dow, 1,498.01 for Russell, 7,664.47 for Nasdaq
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Pricing date: | Aug. 20
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Settlement date: | Aug. 23
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Agent: | Barclays
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Fees: | 2.95%
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Cusip: | 06747NDR2
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