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Barclays plans callable contingent coupon notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 15 – Barclays Bank plc plans to price callable contingent coupon notes due in March 29, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 6% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on a monthly observation date.
The notes are callable in whole but not in part on a quarterly basis after two years.
The payout at maturity will be par plus the final contingent coupon unless either underlying index finishes below its 60% barrier level, in which investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
The notes will price on March 24.
The Cusip number is 06741VPC0.
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