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Barclays plans contingent yield trigger autocallables tied to indexes
By Susanna Moon
Chicago, Aug. 23 – Barclays Bank plc plans to price trigger autocallable contingent yield notes due Aug. 31, 2027 linked to the least performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6% to 7% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. and Barclays are the agents.
The notes will price on Aug. 29.
The Cusip number is 06746L281.
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