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Barclays plans one-year dual direction buffer notes tied to S&P 500
By Susanna Moon
Chicago, Feb. 27 – Barclays Bank plc plans to price 0% dual directional buffered notes due March 18, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the return of the worse performing index, up to a maximum upside return of 7%.
If the index falls by up to 11.5%, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1.12994% for each 1% decline beyond 11.5%.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
The notes will price on March 1.
The Cusip number is 06747MH82.
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