New Issue: Barclays prices $20.9 million capped dual directional knock-out notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Oct. 11 – Barclays Bank plc priced $20.9 million 0% capped dual directional knock-out notes due April 10, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event will occur if, on any observation date, the index’s closing level is greater than the upper barrier value or less than the lower barrier value. The observation dates are the 29th calendar day of each month during the term of the notes. The upper barrier value will be 115% of the initial level, and the lower barrier value will be 85% of the initial level.

If a knock-out event has not occurred, the payout at maturity will be par plus the greater of the absolute value of the index return and 6.7%.

If a knock-out event has occurred, the payout will be par plus 6.7%.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Capped dual directional knock-out notes
Underlying index:	S&P 500 index
Amount:	$20,904,000
Maturity:	April 10, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If knock-out event has not occurred, par plus greater of absolute value of index return and 6.7%; if knock-out event has occurred, par plus 6.7%
Knock-out event:	Index’s closing level is greater or less than initial level by more than 15% during life of notes
Initial level:	4,308.5
Upper barrier level:	4,954.78, 115% of initial value
Lower barrier level:	3,662.23, 85% of initial value
Pricing date:	Oct. 6
Settlement date:	Oct. 11
Agent:	Barclays
Fees:	1.55%
Cusip:	06745NNU6

© 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.