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Barclays plans one-year phoenix autocallables linked to Euro Stoxx 50
By Devika Patel
Knoxville, Tenn., March 9 – Barclays Bank plc plans to price phoenix autocallable notes due March 29, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual contingent coupon at an annual rate of 11.45% if the index closes at or above its coupon barrier level, 80% of its initial level, on each observation date.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any observation date.
If the index finishes at or above its 80% barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to any losses beyond the 80% barrier.
Barclays is the agent.
The notes (Cusip: 06741U6K5) will price on March 11 and settle on March 16.
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