Barclays plans autocallable contingent coupon notes tied to indexes

By Devika Patel

Knoxville, Tenn., June 26 – Barclays Bank plc plans to price autocallable contingent coupon notes due July 31, 2024 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.25% if each index closes at or above its coupon barrier level, 65% of the initial level, on the review date for that quarter.

Beginning six months after issuance, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final one.

The payout at maturity will be par plus the final coupon unless either index finishes below the 65% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.

Barclays is the agent.

The notes (Cusip: 06747Q4F1) will price on July 28 and settle on July 31.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.