Barclays to price contingent income callable securities on S&P 500

By Marisa Wong

Morgantown, W.Va., Jan. 10 – Barclays Bank plc plans to price contingent income callable securities due Jan. 18, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 6.85% per year if the index closes at or above its coupon threshold level, 75% of its initial level, on the determination date for that quarter.

After one year, the notes will be callable at par on any quarterly coupon payment date other than the final one.

If the index finishes at or above its downside threshold level, 60% of its initial level, the payout at maturity will be par plus the final contingent coupon, if any. If the final index level is less than the downside threshold level, investors will be fully exposed to the index’s decline from its initial level.

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

The notes will price on Jan. 12.

The Cusip number is 06744CRF0.

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