Published on 8/25/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.5 million buffered dual directional notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Aug. 25 – Barclays Bank plc priced $1.5 million of 0% buffered dual directional notes due Dec. 30, 2022 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, 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 15% maximum gain.
If the lesser performing index falls by up to 10%, 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 beyond 10%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered dual directional notes
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Underlying indexes: | S&P 500 index and Dow Jones industrial average
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Amount: | $1,503,000
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Maturity: | Dec. 30, 2022
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus any gain in lesser performing index, up to a 15% maximum gain; if lesser performing index falls by up to 10% par plus the absolute value of return of that index; exposure to losses of lesser performing index beyond 10%
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Initial levels: | 4,266.49 for S&P, 34,196.82 for Dow
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Buffer values: | 3,839.84 for S&P, 30,777.14 for Dow, 90% of initial levels
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Pricing date: | June 24
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Settlement date: | June 29
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Agent: | Barclays
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Fees: | 0.375%
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Cusip: | 06748EYS6
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