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Barclays plans callable contingent coupon notes tied to S&P 500, ETF
By Marisa Wong
Morgantown, W.Va., Dec. 16 – Barclays Bank plc plans to price callable contingent coupon notes due Dec. 28, 2018 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent semiannual coupon of 5.75% to 6.25% if each underlying component closes at or above its barrier level, 60% of its initial level, on the observation date for that period.
The payout at maturity will be par unless either component finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worse performing component.
The notes are callable at par on any interest payment date.
Barclays is the agent.
The notes will price on Dec. 18 and settle on Dec. 28.
The Cusip number is 06741UW75.
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