Published on 12/10/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $801,000 dual directional notes linked to Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 10 – Barclays Bank plc priced $801,000 of 0% dual directional notes due Dec. 3, 2024 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 1.5 times the gain of the worse performing index.
If either index finishes flat or falls by up to 20%, the payout will be par plus the absolute value of the return of the worse performing index.
Investors will lose 1% for each 1% decline of the worse performing index beyond 20%
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Dual directional notes
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Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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Amount: | $801,000
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Maturity: | Dec. 3, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 1.5 times return of lesser performing index; if either index finishes flat or falls by up to 20%, par plus absolute value of return of lesser-performing index; investors will lose 1% for each 1% decline of the lesser-performing index beyond 20%
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Initial levels: | 28,164.0 for Dow and 1,634.1 for Russell
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Buffer values: | 22,531.2 for Dow and 1,307.28 for Russell; 80% of initial levels
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Pricing date: | Nov. 27
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Settlement date: | Dec. 3
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Agent: | Barclays
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Fees: | 1.125%
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Cusip: | 06747NNH3
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