Barclays plans to price dual directional notes linked to S&P, Russell

By Devika Patel

Knoxville, Tenn., Nov. 4 – Barclays Bank plc plans to price 0% dual directional notes due Nov. 28, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final value of each index is greater than or equal to its initial level, the payout at maturity will be par plus 1.15 to 1.25 times the return of the lesser performing index.

If the final level of either index is less than the initial index level but neither index falls by more than 20%, the payout at maturity will be par plus the absolute value of the return of the lesser performing index.

If the final level of either index is less than the initial index level by more than 20%, investors will lose 1% for every 1% decline of the worse performing index.

Barclays is the agent.

The notes (Cusip: 06741VE57) will price on Nov. 22 and settle on Nov. 28.

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