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Barclays plans callable contingent coupon notes on Nasdaq, Dow
By Sarah Lizee
Olympia, Wash., July 9 – Barclays Bank plc plans to price callable contingent coupon notes due July 31, 2029 linked to the least performing of the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon of 7.15% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
At Barclays’ option, the notes will be callable in whole at par on any coupon payment date.
If each index finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the least-performing index.
Barclays is the agent.
The notes will price on July 26.
The Cusip number is 06747N4J0.
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