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Barclays plans 9.5%-10.5% phoenix autocallables tied to three stocks
By Susanna Moon
Chicago, July 12 – Barclays Bank plc plans to price phoenix autocallable notes due Aug. 1, 2019 linked to the least performing of the common stocks of Twitter, Inc., Morgan Stanley and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.5% to 10.5% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that month.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date other than the final date.
The payout at maturity will be par unless any underlying asset finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worst performing index.
Barclays is the agent.
The notes will price on July 26.
The Cusip number is 06746XJ61.
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