Barclays plans callable contingent coupon notes tied to Russell, Stoxx

By Tali Rackner

Norfolk, Va., Oct. 8 – Barclays Bank plc plans to price callable contingent coupon notes due Oct. 30, 2020 linked to the lesser performing of 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 quarterly coupon at the rate of 8.75% per year if each index closes at or above the barrier level, 65% of its initial level, on the observation date for that period.

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 on Oct. 27 and settle on Oct. 30.

The Cusip number is 06741UP32.

The estimated initial value is expected to be between $940 and $951.60 per $1,000 principal amount.

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