Barclays plans callable contingent coupon notes tied to fund, index

By Susanna Moon

Chicago, June 15 – Barclays Bank plc plans to price callable contingent coupon notes due June 30, 2020 linked to the lesser performing of the S&P 500 index and the SPDR S&P Regional Banking exchange-traded fund, 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 underlying component closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes are callable at par on any interest payment date beginning in December 2017.

If each component finishes at or above its 70% barrier level, the payout at maturity will be par plus the final coupon.

Otherwise, investors will be fully exposed to the decline of the worse performing index or fund.

Barclays is the agent.

The notes will price on June 27 and settle on June 30.

The Cusip number is 06741VWY4.

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