Barclays plans 7% contingent income callables tied to three indexes

By Susanna Moon

Chicago, March 22 – Barclays Bank plc plans to price contingent income callable securities due Sept. 28, 2020 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent payment at an annual rate of 7% if each index closes at or above its 60% downside threshold on the observation date that quarter.

The notes are callable at par plus the contingent coupon on any quarterly determination date other than the final date.

If each index finishes at or above its 60% downside threshold, the payout at maturity will be par plus the final contingent coupon.

Otherwise, investors will lose 1% for each 1% decline of the worst performing index.

Barclays is the agent and Morgan Stanley Wealth Management is a dealer.

The notes will price on March 23.

The Cusip number is 06746X2Q5.

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