Barclays plans callable contingent coupon notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, May 5 – Barclays Bank plc plans to price callable contingent coupon notes due Nov. 30, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon at an annualized rate of 7% to 8% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.

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

The payout at maturity will be par unless either index finishes below its initial level and either index has closed below its barrier level on any day during the life of the notes, in which case investors will be fully exposed to the decline of the lesser performing index.

Barclays is the agent.

The notes will price May 25.

The Cusip number is 06741V3E0.

© 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.