Barclays plans callable contingent coupon note on Euro Stoxx, EM fund

By Devika Patel

Knoxville, Tenn., Jan. 2 – Barclays Bank plc plans to price callable contingent coupon notes due Jan. 22, 2021 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of between 8.5% and 9.5% per year if each underlying closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period. The exact coupon rate will be set at pricing.

The notes are callable in whole but not in part on any contingent coupon payment date on or after July 16, 2018.

The payout at maturity will be par plus any final coupon unless either underlying finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing underlying from its initial level and also receive any final coupon.

Barclays is the agent.

The notes (Cusip: 06744CR37) will price on Jan. 19 and settle on Jan. 26.

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