Barclays to price contingent quarterly payment callable yield notes linked to S&P 500, Russell 2000

By Angela McDaniels

Tacoma, Wash., Oct. 4 - Barclays Bank plc plans to price contingent quarterly payment callable yield notes due Nov. 2, 2017 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Noteholders will receive quarterly interest payments at the rate of 7% to 9% per year if the lesser-performing index closes at or above its barrier level, 55% of its initial level, on the valuation date for that quarter. The exact quarterly contingent interest rate will be set at pricing.

If the final level of the lesser-performing index is greater than or equal to its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-performing index from its initial level.

Beginning Nov. 1, 2013, the notes are callable at par on any interest payment date.

The notes will price Oct. 26 and settle Oct. 31.

Barclays is the agent.

The Cusip number is 06741THQ3.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.