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Barclays to price phoenix autocallable notes linked to two ETFs
By Sarah Lizee
Olympia, Wash., June 20 – Barclays Bank plc plans to price phoenix autocallable notes due June 28, 2024 linked to the lesser performing of the SPDR S&P 500 ETF and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at a rate of 7% per year if each ETF closes at or above its coupon barrier price, 70% of its initial price, on the related observation date.
The notes will be called at par if each ETF closes at or above its initial price on any semiannual call determination date.
The payout at maturity will be par unless any ETF finishes below its 65% barrier, in which case investors will lose 1% for each 1% decline of the worst performing ETF.
Barclays is the agent.
The notes will price on June 21.
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