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

By Wendy Van Sickle

Columbus, Ohio, Aug. 23 – Barclays Bank plc plans to price 10% callable contingent coupon notes due Aug. 30, 2028 linked to the least performing of the Euro Stoxx 50 index, 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 10% if each index closes at or above its coupon barrier level, 70% of its initial level, on the related quarterly observation date.

Barclays may call the notes in whole at par on any contingent interest payment date prior to maturity.

If each index finishes at or above its barrier level, 50% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.

Barclays is the agent.

The notes will price on Aug. 24 and settle on Aug. 30.

The Cusip number is 06746XN82.

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