Barclays plans contingent income callable securities tied to S&P 500

By Susanna Moon

Chicago, May 17 – Barclays Bank plc plans to price contingent income callable securities due June 3, 2027 linked to the S&P 500 index, according to an FWP filed with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.2% if the index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.

The notes will be callable at par plus any coupon on any quarterly coupon payment date other than the final date beginning June 5, 2018.

The payout at maturity will be par plus the contingent coupon unless the index finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline.

Barclays is the agent, with Morgan Stanley Wealth Management handling distribution.

The notes will price on May 31 and settle on June 5.

The Cusip number is 06741VVP4.

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