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Barclays plans callable contingent coupon notes linked to indexes
By Sarah Lizee
Olympia, Wash., June 6 – Barclays Bank plc plans to price callable contingent coupon notes due June 12, 2024 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 7.15% if each underlying index closes at or above its coupon barrier level, 60% of its initial price, on the observation date for that period.
The notes will be callable quarterly in whole at par.
If each asset finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.
Barclays is the agent.
The notes will price on June 7.
The Cusip number is 06747MZC3.
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