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Barclays to price contingent payment notes linked to FTSE 100, DAX
By Toni Weeks
San Luis Obispo, Calif., April 16 – Barclays Bank plc plans to price callable contingent payment notes due April 20, 2017 linked to the lesser performing of the FTSE 100 index and the DAX index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 5.2% if each index closes at or above its barrier level, 65% of its initial level, on the valuation date for that quarter.
The payout at maturity will be par unless the lowest-performing index finishes below its barrier level, in which case investors will be fully exposed to the decline of that index from its initial level.
The notes will be callable at par on any interest payment date beginning Oct. 19, 2015.
Barclays is the agent.
The notes will price April 17 and settle April 22.
The Cusip number is 06741UUP7.
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