Barclays plans contingent coupon callable notes tied to S&P, Russell

By Tali Rackner

Norfolk, Va., Feb. 17 – Barclays Bank plc plans to price callable contingent coupon notes due Feb. 28, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 7% to 8% if each index closes at or above its coupon barrier, 65% of its initial level, on a determination date for that quarter.

The notes will be callable at par on any contingent coupon payment date beginning in February 2018.

The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 65% barrier level, in which case investors will be fully exposed to any losses of the least-performing index.

Barclays is the agent.

The notes will price on Feb. 23 and settle on Feb. 28.

The Cusip number is 06741VJE3.

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