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Barclays redeems $8.95 million accrual notes tied to Libor, S&P 500
By Marisa Wong
Madison, Wis., Feb. 22 - Barclays Bank plc said it redeemed all $8.95 million of its outstanding callable contingent accrual notes due Feb. 17, 2026.
The notes (Cusip: 06741JCM9) were redeemed on Feb. 17 at par plus accrued interest.
The interest rate is equal to 7.72% per year for each day that Libor is less than 7% and the S&P 500 index closes at or above 875.
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