Barclays plans callable contingent coupon notes on Stoxx 50, oil fund

By Marisa Wong

Morgantown, W.Va., July 11 – Barclays Bank plc plans to price callable contingent coupon notes due July 16, 2020 linked to the Euro Stoxx 50 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent semiannual coupon of 10.75% if each underlying component closes at or above its 65% coupon barrier on the observation date for the applicable semiannual period.

The payout at maturity will be par unless either component finishes below its 65% barrier level, in which case investors will be fully exposed to any losses.

The notes are callable at par on any contingent coupon payment date after either the fourth or fifth semiannual observation date.

Barclays is the agent.

The notes will price on July 12.

The Cusip number is 06744CBU4.

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