Published on 12/30/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.26 million dual directional notes linked to Dow, Russell
By Angela McDaniels
Tacoma, Wash., Dec. 30 – Barclays Bank plc priced $1.26 million of 0% buffered dual directional notes due Dec. 24, 2024 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lesser-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 1.17 times the lesser-performing index’s return.
If the final level of the lesser-performing index is less than its initial level but greater than or equal to its buffer level, 80% of its initial level, the payout will be par plus the absolute value of that index’s return.
If the final level of the lesser-performing index is less than its buffer level, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered dual directional notes
|
| Underlying indexes: | Dow Jones industrial average and Russell 2000
|
| Amount: | $1,264,000
|
| Maturity: | Dec. 24, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of lesser-performing index is greater than or equal to initial level, par plus 1.17 times lesser-performing index’s return; if final level of lesser-performing index is less than initial level but greater than or equal to buffer level, par plus absolute value of that index’s return; if final level of lesser-performing index is less than buffer level, 1% loss for every 1% that lesser-performing index declines beyond 20%
|
| Initial levels: | 28,376.96 for Dow and 1,667.09 for Russell 2000
|
| Buffer values: | 22,701.57 for Dow and 1,333.67 for Russell 2000, or 80% of initial levels
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Agent: | Barclays
|
| Fees: | 4.125%
|
| Cusip: | 06747NUZ5
|
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