Published on 10/30/2020 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $74,000 dual directional notes linked to S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Oct. 30 – Barclays Bank plc priced $74,000 of 0% dual directional notes due Oct. 31, 2024 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 40%.
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.
| Issuer: | Barclays Bank plc
|
| Issue: | Dual directional notes
|
| Underlying indexes: | S&P 500 index and Nasdaq-100 index
|
| Amount: | $74,000
|
| Maturity: | Oct. 31, 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 lesser-performing index’s return up to 40%; if final level of lesser-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: | 3,390.68 for S&P, 11,598.95 for Nasdaq
|
| Barrier values: | 2,543.01 for S&P, 8,699.21 for Nasdaq, or 75% of initial levels
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Agent: | Barclays
|
| Fees: | 4.1%
|
| Cusip: | 06747QL70
|
|
|
© 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.
