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Barclays plans 22.25% rate phoenix autocalls tied to three stocks
By Wendy Van Sickle
Columbus, Ohio, March 16 – Barclays Bank plc plans to price phoenix autocallable notes due March 19, 2020 linked to the least performing of the common stocks of Lululemon Athletica Inc. and Target Corp. and the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 22.25% if each stock closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above initial level on any observation date after six months.
The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.
Barclays is the agent.
The notes will price on March 19.
The Cusip number is 06741WEC0.
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