Barclays plans callable contingent payment notes on S&P 500, oil fund

By Jennifer Chiou

New York, March 4 – Barclays Bank plc plans to price callable contingent payment notes due March 29, 2018 linked to the least performing of the S&P 500 index and the Market Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon at an annualized rate of at least 7% if each underlying component closes at or above its coupon barrier level, 60% 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.

The payout at maturity will be par unless the least-performing component finishes below the 60% barrier level, in which case investors will be fully exposed to the decline of the least-performing component.

The notes (Cusip: 06741URR7) will price on March 25 and settle on March 30.

Barclays is the agent.

© 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.