Published on 2/13/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.2 million of dual directional notes linked to index, ETF
Chicago, Feb. 13 – Barclays Bank plc priced $1.2 million of 0% dual directional notes due Feb. 4, 2021 linked to the least performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lesser-performing asset is greater than its initial level, the payout at maturity will be par plus 1.55 times the return of the lesser-performing asset.
If the final level of the lesser-performing asset is less than its initial level but greater than or equal to 85% of its initial level, the payout will be par plus the absolute value of the lesser-performing asset’s return.
If the final level of the lesser-performing asset is less than its buffer level, investors will lose 1% for every 1% that the lesser-performing asset declines beyond the 15% buffer level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Dual directional notes
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| Underlyings: | Euro Stoxx 50 index and iShares MSCI EAFE exchange-traded fund
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| Amount: | $1,197,000
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| Maturity: | Feb. 4, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final level of lesser-performing asset is greater than initial level, par plus 1.55 times the return of lesser-performing asset; if final level of lesser-performing asset is less than initial level but greater than or equal to 85% of initial level, par plus absolute value of lesser-performing asset’s return; if final level of lesser-performing asset is less than 85% of initial level, 1% loss for every 1% that lesser-performing asset declines beyond 15% buffer
|
| Initial levels: | 3,159.43 for Stoxx and $62.68 for EAFE
|
| Buffer levels: | 85% of initial levels
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| Pricing date: | Jan 31
|
| Settlement date: | Feb. 5
|
| Agent: | Barclays
|
| Fees: | 1.05%
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| Cusip: | 06747M7H3
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