Barclays plans contingent coupon notes linked to S&P 500, Russell

By Angela McDaniels

Tacoma, Wash., Aug. 7 – Barclays Bank plc plans to price callable contingent coupon notes due Aug. 23, 2023 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.

Every six months, the notes will pay a contingent coupon at the rate of 7.4% per year if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that semiannual period

The notes will be callable at par on the eighth, ninth, 10th and 11th observation dates.

The payout at maturity will be par unless the final level of the lesser-performing index is less than its barrier level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.

Barclays is the agent.

The notes will price Aug. 18.

The Cusip number is 06744CGE5.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.