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Barclays to price callable contingent coupon notes due 2024 on indexes
By Sarah Lizee
Olympia, Wash., June 4 – Barclays Bank plc plans to price callable contingent coupon notes due June 12, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 9.3% per year and will be set at pricing.
After six months, the notes will be callable at par on any interest payment date.
The payout at maturity will be par unless the least-performing index finishes below its barrier level, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Barclays is the agent.
The notes will price June 7.
The Cusip number is 06747MYS9.
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