Barclays plans callable contingent payment notes tied to indexes, fund

By Marisa Wong

Madison, Wis., May 7 – Barclays Bank plc plans to price callable contingent payment notes due Dec. 1, 2016 linked to worst performing of the Russell 2000 index, Euro Stoxx 50 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon at an annual rate of 10% for each quarter that all of the components close above the 75% coupon barrier level on a quarterly valuation date.

The notes are callable at par plus the contingent coupon on any interest payment date.

The payout at maturity will be par unless any component finishes below the 75% trigger level, in which case investors will be fully exposed to any losses of the worst performing component.

Barclays is the agent.

The notes are expected to price May 26 and settle May 29.

The Cusip number is 06741UVU5.

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