Barclays plans to price dual directional notes linked to S&P, Russell

By Angela McDaniels

Tacoma, Wash., Nov. 15 – Barclays Bank plc plans to price 0% dual directional notes due Nov. 29, 2024 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 the lesser-performing index’s return is greater than or equal to zero, the payout at maturity will be par plus 1.14 to 1.17 times the lesser-performing index’s return. The exact upside leverage factor will be set at pricing.

If the lesser-performing index’s return is less than zero but greater than or equal to negative 20%, the payout will be par plus the absolute value of the lesser-performing index’s return.

If the lesser-performing index’s return is less than negative 20%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.

Barclays is the agent.

The notes will price Nov. 25.

The Cusip number is 06747NPY4.

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