Barclays to price contingent income callable notes linked to indexes

By Sarah Lizee

Olympia, Wash., May 21 – Barclays Bank plc plans to price contingent income callable securities due May 27, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon if each index closes at or above its downside threshold level, 65% of its initial level, on each trading day during that quarter. The contingent coupon rate is expected to be at least 8.4% per year and will be set at pricing.

The notes will be callable at par on any quarterly coupon 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. Otherwise, investors will be fully exposed to the decline of the least-performing index from its initial level.

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

The notes will price May 24.

The Cusip number is 06747MVC7.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.