Barclays plans callable contingent coupon notes tied to Russell, Dow

By Sarah Lizee

Olympia, Wash., Nov. 1 – Barclays Bank plc plans to price callable contingent coupon notes due Nov. 8, 2029 linked to the least performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annualized rate of 7.5% if each underlying asset closes at or above its coupon barrier level, 75% of the initial value, on the related observation date.

After six months, the notes will be callable at par plus any coupon due on any coupon payment date other than the final coupon payment date.

If each asset finishes at or above its 52% barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline of the least-performing asset.

Barclays is the agent.

The notes will price on Nov. 4.

The Cusip number is 06747NQA5.

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