Barclays plans callable contingent coupon notes on Dow, Russell, S&P

By Sarah Lizee

Olympia, Wash., Aug. 24 – Barclays Bank plc plans to price callable contingent coupon notes due Aug. 31, 2023 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 pay a contingent quarterly coupon at an annualized rate of 6.25% if each underlying asset closes at or above its coupon barrier level, 70% of the initial value, on the related quarterly observation date.

The notes will be callable in whole at par on any contingent coupon payment date after six months.

If each asset finishes at or above its 65% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset.

Barclays is the agent.

The notes will price on Aug. 26.

The Cusip number is 06747QEG8.

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