Barclays plans contingent income callable securities on two indexes

By Devika Patel

Knoxville, Tenn., Dec. 22 – Barclays Bank plc plans to price contingent income callable securities due Jan. 3, 2020 linked to the worst performing of the S&P 500 index and the Euro Stoxx 50 index, according to an 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 9.5% if each index closes at or above its coupon barrier level, 75% of its initial index level, on the determination date for that quarter.

The notes will be callable in whole but not in part at par plus the coupon payment, if any, on any quarterly payment date other than the final one.

If either index finishes at or above its barrier level, 75% of its initial index level, the payout at maturity will be par. If the final level of any index is less than its downside threshold level, investors will lose 1% for each 1% decline of the least-performing index.

Barclays is the agent.

The notes (Cusip: 06741VFV9) will price on Dec. 29 and settle on Jan. 4.

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