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Barclays plans 7%-8% contingent coupon callables on Russell, Stoxx
By Susanna Moon
Chicago, Aug. 7 – Barclays Bank plc plans to price callable contingent coupon notes due Aug. 31, 2023 linked to the least performing of 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 semiannual coupon at an annual rate of 7% to 8% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that period.
The notes are callable at par on any interest payment date beginning with the second date.
The payout at maturity will be par unless either underlying asset closes below its 70% trigger level, in which case investors will be exposed to any losses of the worse performing index.
Barclays is the agent.
The notes will price on Aug. 28.
The Cusip number is 06746XLL5.
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