Barclays plans dual directional knock-out notes linked to Invesco QQQ

By Angela McDaniels

Tacoma, Wash., Oct. 28 – Barclays Bank plc plans to price 0% dual directional knock-out notes due Oct. 4, 2021 linked to the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event will occur if, on any observation date, the trust’s closing share price is greater than the upper barrier value or less than the lower barrier value. The observation dates are the 29th calendar day of each month during the term of the notes. The upper barrier value will be 117.6% of the initial share price, and the lower barrier value will be 82.4% of the initial share price.

If a knock-out event has not occurred and the final share price is less than or equal to the upper barrier value but greater than or equal to the initial share price, the payout at maturity will be par plus the trust return.

If a knock-out event has not occurred and the final share price is less than the initial share price but greater than or equal to the lower barrier value, the payout will be par plus the absolute value of the trust return.

If a knock-out event has occurred, the payout will be $1,010 per $1,000 principal amount of notes.

The notes will price Oct. 29.

Barclays is the agent.

The Cusip number is 06747NMS0.

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