New Issue: Barclays prices $4.05 million step-up callable notes tied to Euro Stoxx, Russell 2000

By Jennifer Chiou

New York, March 30 – Barclays Bank plc priced $4,048,000 of step-up callable notes due March 31, 2025 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 9% per year for the first year. After that, the notes will pay a contingent coupon each quarter if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter. The contingent coupon rate will be 9% per year for the first 12 contingent coupon observation dates, 11% per year for contingent coupon observation dates 13 through 28 and 13% per year for contingent coupon observation dates 29 through 36.

Beginning on March 31, 2016, the notes will be callable at par on any interest payment date.

The payout at maturity will be par unless the final level of the lesser-performing index is less than its barrier level, 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.

Barclays is the underwriter.

Issuer:	Barclays Bank plc.
Issue:	Step-up callable notes
Underlying indexes:	Euro Stoxx 50 and Russell 2000
Amount:	$4,048,000
Maturity:	March 31, 2025
Coupon:	9% for first year; after that, contingent coupon each quarter if each index closes at or above its coupon barrier level, 75% of its initial level, on observation date for that quarter; contingent coupon rate will be 9% per year for the first 12 contingent coupon observation dates, 11% per year for contingent coupon observation dates 13 through 28 and 13% per year for contingent coupon observation dates 29 through 36
Price:	Par
Payout at maturity:	Par unless final level of the lesser-performing index is less than its barrier level, 50% of its initial level, in which case investors will be fully exposed to decline of the lesser-performing index
Call:	At par on any interest payment date beginning on March 31, 2016
Initial levels:	3,669.79 for Euro Stoxx 50 and 1,231.99 for Russell 2000
Coupon barriers:	2,752.34 for Euro Stoxx 50 and 923.99 for Russell 2000, 75% of initial levels
Barrier levels:	1,834.90 for Euro Stoxx 50 and 616.00 for Russell 2000, 50% of initial levels
Pricing date:	March 26
Settlement date:	March 31
Underwriter:	Barclays
Fees:	4.94%
Cusip:	06741USB1

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