Barclays plans 10.5% callable contingent coupon notes on indexes, ETF

By Tali Rackner

Norfolk, Va., Dec. 11 – Barclays Bank plc plans to price 8.5% callable contingent coupon notes due Jan. 2, 2018 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 10.5% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.

The notes are callable on any contingent coupon payment date.

The payout at maturity will be par plus the final contingent coupon unless any underlier finishes below its 70% barrier level, in which case investors will be fully exposed to any losses of the worst performing underlier.

Barclays is the agent.

The notes are expected to price on Dec. 23 and settle on Dec. 30.

The Cusip number is 06741UY81.

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