Barclays plans callable contingent coupon notes tied to three indexes

By Sarah Lizee

Olympia, Wash., April 5 – Barclays Bank plc plans to price callable contingent coupon notes due April 30, 2024 linked to the least performing 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.

Each quarter, the notes will pay a coupon at an annualized rate of 6% to 7% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.

The notes will be callable at par on any interest payment date after one year.

The payout at maturity will be par unless the least-performing index finishes below its barrier level, 65% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.

Barclays is the agent.

The notes will price April 25.

The Cusip number is 06747MM94.

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