Barclays plans callable contingent payment notes tied to Euro Stoxx 50

By Toni Weeks

San Luis Obispo, Calif., March 6 - Barclays Bank plc plans to price callable contingent payment notes due March 30, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon at an annualized rate of 8% if the index closes above the coupon barrier level, 70% of the initial level, on a quarterly valuation date. Otherwise, no coupon will be paid that quarter.

The notes are callable at par plus the contingent coupon on any interest payment date beginning April 1, 2014.

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

Barclays is the agent.

The notes will price on March 25 and settle on March 28.

The Cusip number is 06741TQA8.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.