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Barclays plans callable contingent payment notes tied to indexes, fund
By Susanna Moon
Chicago, Aug. 5 – Barclays Bank plc plans to price callable contingent payment notes due Aug. 31, 2017 linked to the worst performing of the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon at an annualized rate of 7.75% for each quarter that all of the components close above the 60% barrier level on a quarterly valuation date.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless any component finishes below the barrier level, in which case investors will be fully exposed to the decline of the worst performing component.
The exact deal terms will be set at pricing.
Barclays is the agent.
The notes will price on Aug. 26 and settle on Aug. 29.
The Cusip number is 06741UHB3.
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