Barclays plans callable contingent payment notes on fund, indexes

By Toni Weeks

San Luis Obispo, Calif., April 8 - Barclays Bank plc plans to price callable contingent quarterly payment notes due April 2016 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.

Noteholders will receive quarterly interest payments at the rate of 7.5% per year if the lowest-performing component closes at or above its barrier level, 60% of its initial level, on the valuation date for that quarter.

If the final level of the lowest-performing component is greater than or equal to its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lowest-performing component from its initial level.

The notes are callable at par on any quarterly contingent payment date.

Barclays is the agent.

The notes will price and settle in April.

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