Barclays plans callable contingent payment notes tied to Russell 2000

By Susanna Moon

Chicago, May 9 - Barclays Bank plc plans to price callable contingent payment notes due May 30, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon at an annual rate of 7.25% if the index closes above the coupon barrier level, 75% of the initial level, on a quarterly valuation date. The exact rate will be set at pricing.

The notes are callable at par plus the contingent coupon on any interest payment date beginning Feb. 25, 2015.

The payout at maturity will be par unless the index finishes below the 65% trigger level, in which case investors will be fully exposed to losses.

Barclays is the agent.

The notes will price on May 27 and settle on May 30.

The Cusip number is 06741UDR2.

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