Barclays plans callable contingent payment notes tied to indexes, ETF

By Marisa Wong

Madison, Wis., May 20 – Barclays Bank plc plans to price callable contingent payment notes due Nov. 25, 2016 linked to worst performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon at an annual rate of 9.85% for each quarter that all of the components close at or above the 70% coupon barrier level on the observation date for 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 any component finishes below the 70% barrier level, in which case investors will be fully exposed to any losses of the worst performing component.

Barclays is the agent.

The notes are expected to price May 21 and settle May 27.

The Cusip number is 06741UWU4.

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