Barclays plans callable contingent coupon notes linked to indexes

By Tali Rackner

Minneapolis, July 27 – Barclays Bank plc plans to price callable contingent coupon notes due July 31, 2020 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of 8% to 9% if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that period.

The notes will be callable at par on any semiannual coupon date.

The payout at maturity will be par plus the final coupon unless either index finishes below the 70% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index.

Barclays is the agent.

The notes are expected to price on July 28 and settle on Aug. 2.

The Cusip number is 06744CDG3.

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