Barclays plans callable contingent coupon notes tied to index, fund

By Sarah Lizee

Olympia, Wash., March 4 – Barclays Bank plc plans to price callable contingent coupon notes due March 31, 2022 linked to the least performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9% to 10% if each underlying asset closes at or above its 65% coupon barrier on the observation date for that quarter.

The notes are callable at par on any interest payment date after six months.

The payout at maturity will be par unless any underlying asset closes below its 65% trigger level, in which case investors will be exposed to any losses of the worst performing index or fund.

Barclays is the agent.

The notes will price on March 26.

The Cusip number is 06747MFX9.

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