Barclays plans callable contingent coupon notes linked to indexes

By Wendy Van Sickle

Columbus, Ohio, July 24 – Barclays Bank plc plans to price callable contingent coupon notes due July 30, 2021 linked to the Dow Jones Industrial Average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6% to 7% if each index closes at or above its coupon barrier, 60% of its initial level, on the review date for that quarter.

The notes will be callable at par any quarterly coupon date.

The payout at maturity will be par plus the final coupon unless any index finishes below the 60% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index.

Barclays is the agent.

The notes (Cusip: 06744CDD0) will price on July 27 and settle Aug. 1.

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