New Issue: Barclays sells $1.24 million buffered dual directional notes on S&P 500

By Marisa Wong

Los Angeles, June 26 – Barclays Bank plc priced $1.24 million of 0% buffered dual directional notes due June 15, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, capped at 28%.

If the final index level is less than or equal to the initial index level but greater than or equal to the buffer value, 85% of the initial index level, the payout will be par plus the absolute value of the index return.

If the final index level is less than the buffer value, investors will lose 1% for every 1% that the index declines beyond 15%.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Buffered dual directional notes
Underlying index:	S&P 500
Amount:	$1.24 million
Maturity:	June 15, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 28%; if index finishes flat or falls by up to 15%, par plus absolute value of index return; otherwise, 1% loss for every 1% that index declines beyond 15%
Initial level:	3,002.10
Buffer level:	2,551.79, 85% of initial level
Pricing date:	June 11
Settlement date:	June 16
Agent:	Barclays
Fees:	1%
Cusip:	06747PXB0

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