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Barclays plans callable contingent coupon notes tied to three indexes
By Devika Patel
Knoxville, Tenn., Oct. 6 – Barclays Bank plc will sell callable contingent coupon notes due Oct. 29, 2027 linked to the lesser performing index 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 quarterly coupon at an annual rate of 10% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarterly period.
The notes are callable in whole but not in part on any contingent coupon payment date beginning on Jan. 26, 2018.
The payout at maturity will be par plus any coupon unless any index finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Barclays is the agent.
The notes (Cusip: 06744C6R7) will price on Oct. 26 and settle on Oct. 31.
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