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Barclays to price market-linked step-up notes linked to JPX-Nikkei
By Sarah Lizee
Olympia, Wash., June 11 – Barclays Bank plc plans to price 0% market-linked step-up notes due June 2021 linked to the JPX-Nikkei index 400, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up level – 119% to 125% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 19% to 25%.
Investors will be exposed to any decline in the index.
BofA Merrill Lynch is the agent.
The notes will price in June.
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