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Barclays to price phoenix autocallable notes tied to three indexes
By Sarah Lizee
Olympia, Wash., June 12 – Barclays Bank plc plans to price phoenix autocallable notes due Dec. 31, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6.5% to 7.5% if each index closes at or above its 70% coupon barrier on a related monthly observation date.
After six months, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date other than the final date.
The payout at maturity will be par unless any index ever closes below 70% of its initial level during the life of the notes and any index finished below its initial level, in which case investors will be exposed to the decline of the worst performing index.
Barclays is the agent.
The notes will price on June 25.
The Cusip number is 06747MWM4.
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