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Barclays plans 7.15% phoenix autocalls tied to S&P 500, Russell 2000
By Susanna Moon
Chicago, Sept. 20 – Barclays Bank plc plans to price phoenix autocallable notes due Sept. 28, 2028 linked to the least 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 pay a contingent monthly coupon at an annual rate of 7.15% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if each asset closes at or above its 105% call level on any call valuation date other than the final date beginning with the sixth date.
The payout at maturity will be par unless either underlying asset ever closes below its 60% trigger level during the life of the notes, in which case investors will be exposed to any losses of the worse performing index.
Barclays is the agent.
The notes will price on Sept. 25 and settle on Sept. 28.
The Cusip number is 06746XQA4.
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