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Barclays intends to price annual autocallable notes on index, ETF
By Sarah Lizee
Olympia, Wash., Jan. 13 – Barclays Bank plc plans to price 0% annual autocallable notes due Jan. 29, 2024 linked to the lesser performing index of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of 10.5% if each underlying closes at or above its initial level on any annual call valuation date.
If the notes are not called and the final level of the lesser-performing underlying is at least 60% of its initial level, the payout at maturity will be par plus 42%. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing underlying from its initial level.
Barclays is the agent.
The notes will price on Jan. 24.
The Cusip number is 06747NZC1.
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