Barclays plans callable trigger notes linked to Financial Select fund

By Angela McDaniels

Tacoma, Wash., May 22 – Barclays Bank plc plans to price 0% discretionary callable trigger securities due June 2, 2017 linked to the Financial Select Sector SPDR Fund, according to an FWP filing with the Securities and Exchange Commission.

The notes are redeemable on June 13, 2016. The early redemption price is expected to be at least $11.60 per $10.00 principal amount of notes and will be set at pricing.

If the notes are not called and the final share price is greater than the initial share price, the payout at maturity will be par plus at least 112% of the increase, with the exact leverage factor to be set at pricing. Investors will receive par if the fund declines by 10% or less and will be fully exposed to the decline if the fund falls by more than 10%.

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

The notes will price May 29 and settle June 3.

The Cusip number is 06743P285.

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