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Barclays plans callable contingent quarterly pay notes tied to indexes
By Marisa Wong
Madison, Wis., April 30 - Barclays Bank plc plans to price contingent quarterly payment callable yield notes due May 31, 2018 linked to the lesser return of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent payment of 2.25% (equal to an annualized rate of 9%) if the lesser performing index closes at or above its 70% coupon barrier level on the valuation date for that quarter.
The notes are callable at par on any quarterly contingent payment date after one year.
The payout at maturity will be par unless the lesser performing index finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the lesser performing index.
Barclays is the agent.
The notes will price on May 25 and settle on May 31.
The Cusip number is 06741TTT4.
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