Published on 4/30/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $38,000 dual directional notes linked to Dow, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, April 30 – Barclays Bank plc priced $38,000 of 0% dual directional notes due April 30, 2025 linked to the least performing of the Dow Jones industrial average, 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 least-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 1.15 times the least-performing index’s return.
If the final level of the least-performing index is less than its initial level but greater than or equal to its barrier level, 70% of its initial level, the payout will be par plus the absolute value of that index’s return.
If the final level of the least-performing index is less than its barrier level, investors will be fully exposed to losses of the worst performing index.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Dual directional notes
|
| Underlying indexes: | Nasdaq-100, Dow Jones industrial average and S&P 500
|
| Amount: | $38,000
|
| Maturity: | April 30, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of least-performing index is greater than or equal to initial level, par plus 1.15 times least-performing index’s return; if final level of least-performing index is less than initial level but greater than or equal to barrier level, par plus absolute value of that index’s return; otherwise, full exposure to losses
|
| Initial levels: | 8,837.66 for Nasdaq, 24,133.78 for Dow and 2,878.48 for S&P 500
|
| Buffer values: | 6,186.36 for Nasdaq, 16,893.65 for Dow and 2,014.94 for S&P 500, or 70% of initial levels
|
| Pricing date: | April 27
|
| Settlement date: | April 30
|
| Agent: | Barclays
|
| Fees: | 4.125%
|
| Cusip: | 06747PPX1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
