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Barclays plans callable contingent coupon notes tied to three indexes
By Marisa Wong
Morgantown, W.Va., Aug. 1 – Barclays Bank plc plans to price callable contingent coupon notes due Aug. 5, 2021 linked to the least performing of the S&P 500 index, 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 semiannual coupon at a rate of 5% per year if each index closes at or above its coupon barrier, 51.5% to 52.5% of its initial level, on the review date for that semiannual period.
The notes will be callable at par on any contingent coupon payment date.
The payout at maturity will be par plus the final coupon unless any index finishes below the 51.5% to 52.5% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index.
Barclays is the agent.
The notes are expected to price on Aug. 2.
The Cusip number is 06744CFC0.
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