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Barclays plans trigger phoenix autocallables on Russell, Euro Stoxx
By Susanna Moon
Chicago, Jan. 15 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Jan. 31, 2024 linked to the worse performing of the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.8% to 7.4% if each index closes at or above the coupon barrier - 70% of the initial share price - on an observation date for that quarter. The exact contingent quarterly coupon will be set at pricing.
The notes will be called at par plus the contingent coupon if each index closes at or above the initial price on any monthly observation date after one year.
If the notes are not called and each index finishes at or above the 50% trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to any losses.
UBS Financial Services Inc. and Barclays are the underwriters.
The will price on Jan. 24 and settle on Jan. 31.
The Cusip number is 06742B816.
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