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Barclays plans contingent income callable securities on three indexes
By Devika Patel
Knoxville, Tenn., Oct. 6 – Barclays Bank plc plans to price contingent income callable securities due April 17, 2020 linked to the worst performing of the MSCI Emerging Markets index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of at least 12.5% if each index closes at or above its coupon barrier level, 70% of its initial index level, on the determination date for that quarter. The exact contingent coupon will be set at pricing.
The notes will be callable in whole but not in part at par plus the coupon payment, if any, on any quarterly payment date other than the final one beginning on Jan. 19, 2018.
If each index finishes at or above its downside threshold level, 65% of its initial index level, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
The notes (Cusip: 06744CA50) will price on Oct. 13 and settle on Oct. 18.
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