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Barclays plans 10.5%-11.5% autocallables linked to internet stocks
By Angela McDaniels
Tacoma, Wash., Feb. 4 – Barclays Bank plc plans to price autocallable notes due Feb. 28, 2019 linked to the least performing of the common stocks of Alphabet Inc., Amazon.com, Inc., Facebook, Inc. and Netflix, Inc., according to a 424B2 filing with the Notes and Exchange Commission.
The interest rate is expected to be 10.5% to 11.5% per year and will be set at pricing. Interest will be payable monthly.
The notes will be called at par if each stock closes at or above its initial price on any quarterly call valuation date.
The payout at maturity will be par unless any stock finishes below its barrier price, 50% of its initial share price, in which case investors will receive par minus 1% for every 1% that the worst-performing stock declines from its initial price.
Barclays is the agent.
The notes will price Feb. 24.
The Cusip number is 06741U4T8.
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