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Barclays plans callable contingent coupon notes on Russell, Stoxx
By Devika Patel
Knoxville, Tenn., Dec. 2 – Barclays Bank plc plans to price callable contingent coupon notes due Dec. 31, 2025 linked to the lesser performing index of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarterly period.
The notes are callable on any contingent coupon payment date.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 70% barrier level, in which case investors will be fully exposed to any losses of the worst performing index.
Barclays is the agent.
The notes (Cusip: 06741UX58) will price on Dec. 28 and settle on Dec. 31.
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