Barclays plans to price callable contingent coupon notes on indexes

By Sarah Lizee

Olympia, Wash., May 18 – Barclays Bank plc plans to price callable contingent coupon notes due June 3, 2024 linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annualized rate of 10% if each asset closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.

The notes will be callable in whole at par plus any coupon due on any quarterly valuation date after one year.

If each asset finishes at or above its final barrier level, 60% of its initial level, the payout at maturity will be par plus the coupon, if any. Otherwise, investors will be fully exposed to the decline of the least-performing asset.

Barclays is the underwriter.

The notes will price on May 29.

The Cusip number is 06747PTR0.

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