Barclays plans callable contingent coupon notes linked to Dow, Russell

By Angela McDaniels

Tacoma, Wash., Jan. 7 – Barclays Bank plc plans to price callable contingent coupon notes due Jan. 29, 2021 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon at an annualized rate of 7% if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.

Beginning in January 2017, the notes will be callable at par on any quarterly observation date.

If each index finishes at or above its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-performing index.

Barclays is the agent.

The notes will price Jan. 26.

The Cusip number is 06741U2P8.

© 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.