Barclays plans callable contingent coupon notes tied to three indexes

By Devika Patel

Knoxville, Tenn., May 5 – Barclays Bank plc will sell callable contingent coupon notes due Feb. 11, 2021 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.

The notes will pay a contingent quarterly coupon at an annual rate of 13.15% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarterly period.

The notes are callable in whole but not in part at par plus interest on any contingent coupon payment date beginning in August 2020 and ending in November 2020.

The payout at maturity will be par plus any coupon unless any index finishes below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing index.

Barclays is the agent.

The notes (Cusip: 06747PS91) will price on May 8 and settle on May 13.

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