Published on 5/4/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $688,000 dual directional notes tied to Russell, S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 4– Barclays Bank plc priced $688,000 of dual directional notes due Nov. 1, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the worse performing index.
If either index falls but finishes at or above its 75% barrier level, the payout will be par plus the absolute value of the return of the worse performing index.
Otherwise, investors will lose 1% for each 1% decline of the worse performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Dual directional notes
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Underlying indexes: | Russell 2000, S&P 500
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Amount: | $688,000
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Maturity: | Nov. 1, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus return of worse performing index; if either index falls but finishes at or above its 75% barrier level, par plus the absolute return of worse performing index; otherwise, 1% loss for each 1% decline of worse performing index
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Initial levels: | 2,384.20 for S&P and 1,400.428 for Russell
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Barrier levels: | 1,788.15 for S&P, 1,050.32 for Russell, 75% of initial levels
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Pricing date: | April 28
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Settlement date: | May 4
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06741VQJ4
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