Barclays plans callable contingent coupon notes linked to Kraft Heinz

By Sarah Lizee

Olympia, Wash., Feb. 13 – Barclays Bank plc plans to price callable contingent coupon notes due Feb. 25, 2021 linked to the common stock of Kraft Heinz Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annualized rate of 9.25% if the stock closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.

The notes will be callable in whole at par on any observation date.

If the stock finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline.

Barclays is the agent.

The notes will price on Feb. 21.

The Cusip number is 06747MEB8.

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