Published on 2/28/2022 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $256,000 dual directional notes on S&P, Nasdaq
Chicago, Feb. 28 – Barclays Bank plc priced $256,000 of 0% dual directional notes due April 30, 2025 linked to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the lesser performing index up to a maximum payout of par plus 35%.
If the lesser performing index falls by up to 25%, the payout will be par plus the absolute value of the return of that index.
Investors will lose 1% for every 1% decline of the lesser performing index from its initial level if it falls by more than 25%.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Dual directional notes
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Underlying indexes: | S&P 500 index and Nasdaq-100 index
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Amount: | $256,000
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Maturity: | April 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain in lesser performing index, up to par plus 35%; if lesser performing index falls by up to 25% par plus the absolute value of return of that index; exposure to losses of lesser performing index from initial level if it falls by more than 25%
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Initial levels: | 4,186.72 for S&P, 13,960.28 for Nasdaq
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Barrier values: | 3,140.04 for S&P, 10,470.21 for Nasdaq, 75% of initial levels
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Pricing date: | April 27, 2021
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Settlement date: | April 30, 2021
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Agent: | Barclays
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Fees: | 4.1%
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Cusip: | 06748EHT3
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