Barclays to price callable contingent interest notes tied to indexes

By Wendy Van Sickle

Columbus, Ohio, Dec. 8 – Barclays Bank plc plans to price callable contingent interest notes due Dec. 17, 2018 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 11.55% if each index closes at or above its trigger value, 75% of its initial level, on the review date for that quarter.

The notes will be callable in whole but not in part at par plus the contingent coupon on any interest payment date other than the final one.

If the notes have not been called, the payout at maturity will be par plus the final interest payment unless any index finishes below its trigger value, in which case investors will lose 1% for each 1% decline of the worst-performing index.

Barclays is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as placement agents.

The notes (Cusip: 06741VFC1) will price on Dec. 9 and settle on Dec. 16.

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