Barclays plans callable contingent coupon notes linked to indexes

By Marisa Wong

Morgantown, W.Va., Sept. 25 – Barclays Bank plc plans to price callable contingent coupon notes due Oct. 26, 2018 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that semiannual period. The contingent coupon rate is expected to be 9.5% to 10.5% per year and will be set at pricing.

The notes will be callable at par on any contingent coupon payment date.

If each index finishes at or above its barrier level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the decline of the lesser-performing index.

Barclays is the agent.

The notes will price Oct. 23 and settle Oct. 30.

The Cusip number is 06741UM68.

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