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Barclays plans autocallable market-linked step-up notes on Euro Stoxx
By Devika Patel
Knoxville, Tenn., Feb. 26 – Barclays Bank plc plans to price 0% autocallable market-linked step-up notes due March 2019 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus a call premium of 12% to 13% per year if the index closes at or above the initial index level in April 2017 or March 2018.
If the notes are not called and the final index level is greater than the step-up value, 130% of the initial index level, the payout at maturity will be par plus the index return.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 30%.
If the final index level is less than the initial level, investors will be fully exposed to the decline.
Merrill Lynch & Co. is the agent.
The notes will price and settle in March.
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