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Barclays plans trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 23 – Barclays Bank plc plans to price 0% trigger autocallable contingent yield notes due June 1, 2020 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if each index closes at or above its coupon barrier, 70% of the initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date, beginning on Nov. 27, 2017.
The payout at maturity will be par plus the final coupon, unless either index finishes below the downside threshold level, 70% of the initial level, in which case investors will lose 1% for every 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and Barclays are the agents.
The notes (Cusip: 06746K846) will price on May 26 and settle on May 31.
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