Barclays to price callable notes with contingent coupon on indexes

By Sarah Lizee

Olympia, Wash., May 13 – Barclays Bank plc plans to price callable securities due May 30, 3025 linked to the worst performing of the Russell 2000 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at a rate of 8.75% per year if each asset closes at or above its barrier value, 75% of its initial level, on the observation date for that quarter, plus any previously unpaid coupons.

The notes are callable at par on any quarterly payment date other than the final date after six months.

The payout at maturity will be par plus the coupon unless any index finishes below the 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.

Barclays is the agent.

The notes will price on May 24.

The Cusip number is 06747MU95.

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