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Published on 1/11/2018 in the Prospect News Structured Products Daily.

Barclays plans five-year dual directional notes tied to S&P, Russell

By Susanna Moon

Chicago, Jan. 11 – Barclays Bank plc plans to price 0% dual directional notes due Feb. 3, 2023 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 each index finishes at or above its initial level, the payout at maturity will be par plus 1.5 times to 1.6 times the return with the exact participation rate to be set at pricing.

If either index falls by up to the 70% 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.

The notes will price on Jan. 31 and settle on Feb. 5.

The Cusip number is 06744CQG9.


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