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Barclays plans 10% contingent coupon callables tied to three indexes
By Susanna Moon
Chicago, April 4 – Barclays Bank plc plans to price callable contingent coupon notes due April 11, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 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 10% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date beginning with the second observation date.
The payout at maturity will be par unless either underlying asset closes below its 60% trigger level, in which case investors will be exposed to any losses of the worse performing index or fund.
Barclays is the agent.
The notes will price on April 6.
The Cusip number is 06746X3L5.
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