Barclays to price step-up callable notes linked to Russell, Euro Stoxx

By Angela McDaniels

Tacoma, Wash., March 11 – Barclays Bank plc plans to price step-up callable notes due March 31, 2025 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 9% per year for the first year. After that, the notes will pay a contingent coupon each quarter if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter. The contingent coupon rate will be 9% per year for the first 12 contingent coupon observation dates, 11% per year for contingent coupon observation dates 13 through 28 and 13% per year for contingent coupon observation dates 29 through 36.

Beginning March 31, 2016, the notes will be callable at par on any interest payment date.

The payout at maturity will be par unless the final level of the lesser performing index is less than its barrier level, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index.

Barclays is the agent.

The notes will price March 26 and settle March 31.

The Cusip number is 06741USB1.

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