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Barclays to price trigger autocallable optimization notes on S&P 500
By Toni Weeks
San Luis Obispo, Calif., Nov. 25 - Barclays Bank plc plans to price 0% trigger autocallable optimization securities due Nov. 30, 2015 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Beginning Feb. 26, 2014, the notes will be automatically called at par of $10 plus a call return of 6% per year if the index closes at or above the initial index level on any quarterly observation date.
If the notes are not called and the index finishes at or above the trigger level, 84% of the initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the index's decline from its initial level.
Barclays and UBS Financial Services Inc. are the agents.
The notes are expected to price Nov. 26 and settle Nov. 29.
The Cusip number is 06742E370.
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