Barclays plans callable contingent coupon notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, Nov. 4 – Barclays Bank plc plans to price callable contingent coupon notes due Nov. 27, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 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 5.25% to 5.75% if each index closes at or above its coupon barrier level, 50% of its initial level, on the observation date for that period. The exact coupon will be set at pricing.

The notes will be callable at par on any contingent coupon payment date.

The payout at maturity will be par unless either index finishes below its 50% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.

Barclays is the agent.

The notes will price on Nov. 22 and settle on Nov. 28.

The Cusip number is 06741VE73.

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