Barclays plans callable contingent coupon notes tied to Dow, Russell

By Sarah Lizee

Olympia, Wash., Jan. 25 – Barclays Bank plc plans to price callable contingent coupon notes due Jan. 31, 2022 linked to the lesser performing of the Dow Jones Industrial Average 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 annual rate of 6.42% per year if each index closes at or above its coupon barrier level, 50% of its initial level, on the observation date for that quarterly period.

The notes are callable at par plus any coupon on any contingent coupon payment date beginning with the fourth date.

The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 50% barrier level, in which case investors will be fully exposed to any losses of the worst performing index.

Barclays is the agent.

The notes (Cusip: 06747MBJ4) will price on Jan. 28.

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