Barclays to price dual directional notes linked to S&P, Nasdaq

By Emma Trincal

New York, Feb. 16 – Barclays Bank plc plans to price 0% dual directional notes due Feb. 28, 2025 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 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 the lesser-performing index’s return, capped at par plus 35%.

If the final level of the lesser-performing index is less than its initial level but greater than or equal to its barrier level, 75% 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 barrier level, investors will be fully exposed to losses of the lesser-performing index.

Barclays is the agent.

The notes will price on Feb. 23 and settle on Feb. 26.

The Cusip number is 06748E3F8.

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