Barclays plans to price callable contingent coupon notes on travel stocks

By Emma Trincal

New York, Oct. 21 – Barclays Bank plc plans to price callable contingent coupon notes due Oct. 31, 2024 linked to the worst performing of the common stocks of Wynn Resorts Ltd, Southwest Airlines Co. and Carnival Corp. according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly coupon at an annualized rate of 19.5% if each stock closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.

The notes will be callable in whole at par plus any coupon due on any monthly call date after three months.

If the notes are not redeemed early, the payout at maturity will be par if each stock finishes at or above its 50% barrier level.

Otherwise, investors will be fully exposed to the decline of the least performing stock from its initial level.

Barclays is the agent.

The notes will price on Oct. 27 and settle on Nov. 1.

The Cusip number is 06748WNY5.

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