Barclays plans callable contingent coupon notes tied to three indexes

By Devika Patel

Knoxville, Tenn., Oct. 15 – Barclays Bank plc will sell callable contingent coupon notes due Oct. 29, 2027 linked to the least performing index of the S&P 500 index, the Russell 2000 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.85% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.

The notes will be callable in whole but not in part on any contingent coupon payment date prior to maturity beginning in January 2019.

The payout at maturity will be par plus any coupon unless any index finishes below its 50% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index.

Barclays is the agent.

The notes (Cusip: 06746XUN1) will price on Oct. 16 and settle on Oct. 19.

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