Barclays plans callable contingent coupon notes tied to three indexes

By Devika Patel

Knoxville, Tenn., June 14 – Barclays Bank plc will sell callable contingent coupon notes due July 3, 2025 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarterly period.

The notes are callable in whole but not in part on any contingent coupon payment date prior to maturity after three months.

The payout at maturity will be par plus the coupon unless any index finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index.

Barclays is the agent.

The notes (Cusip: 06747MZR0) will price on June 28 and settle on July 3.

© 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.