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Barclays plans callable contingent payment notes tied to three indexes
By Marisa Wong
Madison, Wis., Nov. 6 – Barclays Bank plc plans to price callable contingent payment notes due Nov. 29, 2017 linked to the lowest performing of the S&P 500 index, 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 coupon of $22.50 per $1,000 principal amount for each quarter that all components close above the 75% coupon 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 any component finishes below the 75% barrier level, in which case investors will be fully exposed to any losses of the worst performing component.
The exact deal terms will be set at pricing.
Barclays is the agent.
The notes are expected to price Nov. 24 and settle Nov. 28.
The Cusip number is 06741ULP7.
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