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Barclays plans contingent income callable securities on two indexes
By Devika Patel
Knoxville, Tenn., Nov. 8 – Barclays Bank plc plans to price contingent income callable securities due Nov. 21, 2019 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to an 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.35% if each index closes at or above its barrier level, 60% of its initial index level, on the determination date for that quarter.
Beginning May 23, 2017, the notes will be callable in whole but not in part at par plus the coupon payment, if any, on any quarterly payment date other than the final one.
If each index finishes at or above its barrier level, 60% of its initial index level, the payout at maturity will be par. If the final level of either index is less than its downside threshold level, investors will lose 1% for each 1% decline of the leasser-performing index.
Barclays is the agent, with Morgan Stanley Wealth Management as a dealer.
The notes (Cusip: 06745R768) will price on Nov. 18 and settle on Nov. 23.
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