Barclays eyes callable contingent coupon notes on Russell, Euro Stoxx

By Devika Patel

Knoxville, Tenn., July 25 – Barclays Bank plc plans to price callable contingent coupon notes due July 31, 2020 linked to the lesser performing index of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7% to 8% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarterly period. The exact coupon will be set at pricing.

The notes are callable at par plus any coupon due on any contingent coupon payment date beginning on Jan. 26, 2018.

The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.

Barclays is the agent.

The notes (Cusip: 06744CAA9) will price on July 26 and settle on July 31.

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