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Barclays plans callable contingent coupon notes linked to Alibaba
By Marisa Wong
Madison, Wis., Feb. 11 – Barclays Bank plc plans to price callable contingent coupon notes due Feb. 23, 2017 linked to Alibaba Group Holding Ltd. American Depositary Shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 10% if Alibaba shares close above the 70% barrier level on the valuation date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless Alibaba shares finish below the 70% barrier level, in which case investors will receive a number of Alibaba shares equal to $1,000 divided by the initial price or, at the issuer’s option, a cash payment of par plus the stock return.
Barclays is the agent.
The notes will price on Feb. 17 and settle on Feb. 20.
The Cusip number is 06741WAB6.
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