Barclays to price notes due 2018 linked to 10 commodity indexes

By Toni Weeks

San Luis Obispo, Calif., Jan. 31 - Barclays Bank plc plans to price notes due Feb. 28, 2018 linked to a basket of 10 commodity indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the S&P GSCI Aluminum Index Excess Return, the S&P GSCI Live Cattle Index Excess Return, the S&P GSCI Cocoa Index Excess Return, the S&P GSCI Cotton Index Excess Return, the S&P GSCI Lean Hogs Index Excess Return, the S&P GSCI Precious Metals Index Excess Return, the S&P GSCI Natural Gas Index Excess Return, the S&P GSCI Lead Index Excess Return, the S&P GSCI Nickel Index Excess Return and the S&P GSCI Zinc Index Excess Return.

The notes will pay a coupon each year equal to the greater of (a) the average of the basket indexes' performances on the applicable coupon observation date and (b) zero.

If an index's return is greater than or equal to zero, its performance will be equal to the return cap. Otherwise, an index's performance will be the greater of its return and negative 15%. The return cap is expected to be between 6.5% and 7.5% and will be set at pricing.

The payout at maturity will be par plus the final coupon payment, if any.

The notes will price Feb. 25 and settle Feb. 28.

Barclays is the agent.

The Cusip number is 06741TNE3.

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