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Barclays to price annual autocallable notes tied to index, ETF
By Sarah Lizee
Olympia, Wash., June 11 – Barclays Bank plc plans to price 0% annual autocallable notes due June 26, 2023 linked to the lesser performing index of 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 will be automatically called at par plus an annualized call premium of 11% if each underlying closes at or above its initial level on any annual call valuation date.
If the notes are not called and the final level of the lesser-performing underlying is at least 60% of its initial level, the payout at maturity will be par plus 44%. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing underlying from its initial level.
Barclays is the agent.
The notes will price on June 21.
The Cusip number is 06747MYF7.
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