Barclays plans callable contingent coupon notes on S&P 500, Russell

By Susanna Moon

Chicago, May 6 – Barclays Bank plc plans to price callable contingent coupon notes due May 28, 2020 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.

The notes will pay a contingent quarterly coupon at an annualized rate of 7% if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.

The notes will be callable at par on any coupon payment date beginning in May 2017.

The payout at maturity will be par unless either index finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.

Barclays is the agent.

The notes will price on May 25 and settle on May 31.

The Cusip number is 06741V3D2.

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