Barclays plans 10%-10.5% contingent coupon callables on index, fund

By Susanna Moon

Chicago, Sept. 28 – Barclays Bank plc plans to price callable contingent coupon notes due Oct. 7, 2021 linked to the lesser 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 10% to 10.5% 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.

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

Barclays is the agent.

The notes will price on Oct. 3.

The Cusip number is 06746XRF2.

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