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Barclays plans callable contingent payment notes tied to indexes, fund
By Susanna Moon
Chicago, Oct. 3 – Barclays Bank plc plans to price callable contingent payment notes due Nov. 2, 2016 linked to worst performing of the Russell 2000 index, Euro Stoxx 50 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 annual rate of 8% for each quarter that all of the components close above the 70% coupon 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 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.
The exact deal terms will be set at pricing.
Barclays is the agent.
The notes will price on Oct. 28 and settle on Oct. 31.
The Cusip number is 06741UKV5.
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