New Issue: Barclays prices $3.24 million callable contingent coupon notes on Russell, S&P

By Sarah Lizee

Olympia, Wash., May 29 – Barclays Bank plc priced $3.24 million of callable contingent coupon notes due May 28, 2024 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a coupon at an annualized rate of 7.55% 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 are callable at par on any interest payment date.

If each index finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-performing index.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$3.24 million
Maturity:	May 28, 2024
Contingent coupon:	7.55% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
Price:	Par
Payout at maturity:	If each index finishes at or above barrier level, par; otherwise, full exposure to losses of lesser-performing index
Call option:	At par on any interest payment date
Initial levels:	2,856.27 for S&P, 1,531.63 for Russell
Coupon barriers:	1,713.76 for S&P, 918.98 for Russell; 60% of initial levels
Barrier levels:	1,713.76 for S&P, 918.98 for Russell; 60% of initial levels
Pricing date:	May 22
Settlement date:	May 28
Agent:	Barclays
Fees:	0.75%
Cusip:	06747MTL0

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