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Barclays plans to price barrier lock-in notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., March 7 – Barclays Bank plc plans to price 0% barrier lock-in notes due March 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index return is greater than or equal to negative 25%, the payout at maturity will be par plus the lock-in return. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.
The lock-in return will be the greater of the highest index return on any observation date and zero. The observation dates are March 30, 2020, March 29, 2021, March 29, 2022 and March 28, 2023.
With respect to each observation date, the index return will be the percentage change in the index from the initial index level to the index’s closing level on that observation date.
Barclays is the agent.
The notes will price March 29.
The Cusip number is 06747MHR0.
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