Barclays to sell callable contingent coupon notes on Euro Stoxx Banks

By Devika Patel

Knoxville, Tenn., Oct. 9 – Barclays Bank plc plans to price callable contingent coupon notes due Oct. 31, 2029 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon at an annual rate of 8% if the index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.

Beginning three months after issuance, the notes will be callable at par on any interest payment date other than the final one.

The payout at maturity will be par plus the final coupon unless the index finishes below its barrier level, 60% of its initial level, in which case investors will lose 1% for every 1% that the index declines from its initial level.

Barclays is the agent.

The notes (Cusip: 06747NKV5) will price on Oct. 28 and settle on Oct. 31.

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