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Barclays plans 6%-7.8% airbag yield autocallables on Citigroup
By Wendy Van Sickle
Columbus, Ohio, Aug. 24 – Barclays Bank plc plans to price 6% to 7.8% airbag autocallable yield notes due Sept. 5, 2017 linked to Citigroup Inc. shares, according to an FWP with the Securities and Exchange Commission.
Interest will be payable monthly, with the exact rate to be set at pricing.
The notes will be called at par if Citigroup shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Citigroup shares equal to $1,000 divided by the conversion price. The conversion price will be 90% of the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
The notes will price on Aug. 29 and settle on Aug. 31.
The Cusip number is 06745B615.
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