Barclays plans contingent income callable securities on three indexes

By Tali Rackner

Minneapolis, Jan. 9 – Barclays Bank plc plans to price contingent income callable securities due July 16, 2020 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of at least 9.85% if each index closes at or above its downside threshold, 75% of its initial index level, on the determination date for that quarter. The exact contingent coupon will be set at pricing.

The notes will be callable in whole but not in part at par plus the coupon payment, if any, on any quarterly payment date other than the final one.

If each index finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.

Barclays is the agent. Morgan Stanley Wealth Management is a dealer.

The notes are expected to price on Jan. 12 and settle on Jan. 18.

The Cusip number is 06744CS51.

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