Barclays plans five-year market-linked notes with leverage tied to Dow

By Susanna Moon

Chicago, Nov. 13 – Barclays Bank plc plans to price 0% market-linked notes due Dec. 5, 2022 with upside participation with quarterly averaging and principal return at maturity linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 100% to 110% of any index gain, with the exact participation rate to be set at pricing.

If the index falls, the payout will be par.

The ending level of the index will be the average of the closing levels on the quarterly dates from February 2018 to Nov. 28, 2022.

Barclays is the agent with Morgan Stanley Wealth Management as dealer.

The notes will price on Nov. 30.

The Cusip number is 06744CKT7.

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