Barclays plans 9% contingent coupon callables on three SPDR funds

By Susanna Moon

Chicago, May 22 – Barclays Bank plc plans to price callable contingent coupon notes due Nov. 29, 2021 linked to the least performing of the Financial Select Sector SPDR Fund, the Energy Sector SPDR Fund and the Materials Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9% if each underlying asset closes at or above its 65% coupon barrier on the observation date for that quarter.

The notes are callable at par on any interest payment date after one year.

The payout at maturity will be par unless any underlying asset closes below its 65% trigger level, in which case investors will be exposed to any losses of the worst performing fund.

Barclays is the agent.

The notes will price on May 23 and settle on May 29.

The Cusip number is 06746XCA9.

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