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Barclays plans annual autocallable notes tied to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., March 22 - Barclays Bank plc plans to price 0% annual autocallable notes due March 31, 2016 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 10% per year if both indexes close at or above their initial levels on March 31, 2014, March 25, 2015 or March 28, 2016.
If the notes are not called and the final level of the lesser-performing index is at least 75% of its initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the lesser-performing index from its initial level.
Barclays is the agent.
The notes are expected to price March 25 and settle March 28.
The Cusip number is 06741TRN9.
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