Barclays plans callable contingent coupon notes linked to index, fund

By Susanna Moon

Chicago, Jan. 8 – Barclays Bank plc plans to price callable contingent coupon notes due Jan. 25, 2019 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of 13% to 14% if each underlying component closes at or above its barrier level, 60% of its initial level, on the observation date for that period.

The notes will be callable at par on any coupon payment date.

The payout at maturity will be par unless either component finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worse performing component.

Barclays is the agent.

The notes will price on Jan. 22 and settle on Jan. 29.

The Cusip number is 06741U2L7.

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