Barclays plans contingent income callable securities on three indexes

By Devika Patel

Knoxville, Tenn., Feb. 9 – Barclays Bank plc plans to price contingent income callable securities due Feb. 13, 2020 linked to the worst performing of the Nikkei 225 index, the S&P 500 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 9.65% if each index closes at or above its coupon barrier level, 70% of its initial index level, on each trading day during that quarter.

The notes will be callable in whole but not in part at par plus the coupon payment, if any, on any quarterly payment date after Aug. 15, 2017.

If each index finishes at or above its downside threshold level, 60% of its initial index level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.

Barclays is the agent, with Morgan Stanley Wealth Management handling distribution.

The notes (Cusip: 06741VKK7) will price on Feb. 10 and settle on Feb. 15.

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