Published on 7/13/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $266,000 dual directional notes on S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, July 13 – Barclays Bank plc priced $266,000 of 0% dual directional notes due May 30, 2025 linked to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the lesser performing index up to a maximum payout of par plus 35%.
If the lesser performing index falls by up to 25%, the payout will be par plus the absolute value of the return of that index.
Investors will lose 1% for every 1% decline of the lesser performing index from its initial level if it falls by more than 25%.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Dual directional notes
|
| Underlying indexes: | S&P 500 index and Nasdaq-100 index
|
| Amount: | $266,000
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| Maturity: | May 30, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any gain in lesser performing index, up to par plus 35%; if lesser performing index falls by up to 25% par plus the absolute value of return of that index; exposure to losses of lesser performing index from initial level if it falls by more than 25%
|
| Initial levels: | 4,188.13 for S&P, 13,657.73 for Nasdaq
|
| Barrier values: | 3,141.1 for S&P, 10,243.3 for Nasdaq, 75% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 28
|
| Agent: | Barclays
|
| Fees: | 4.1%
|
| Cusip: | 06748EMH3
|
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