Barclays plans callable coupon payment notes linked to Euro Stoxx 50

By Marisa Wong

Madison, Wis., June 28 - Barclays Bank plc plans to price callable coupon payment notes due July 31, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at a fixed rate of at least 7% per year for the first year. After that, investors will receive a contingent coupon of 7% to 7.5% per year if the index closes above the coupon barrier level, 75% of the initial level, on a quarterly valuation date; otherwise, no coupon will be paid that quarter. The exact rates will be set at pricing.

The notes are callable at par on any interest payment date beginning Aug. 4, 2014.

The payout at maturity will be par unless the index finishes below the 50% barrier level, in which case investors will be fully exposed to losses.

The notes (Cusip: 06741TXW2) are expected to price on July 26 and settle on July 31.

Barclays is the agent.

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