Barclays to price callable contingent coupon notes on Stoxx, oil fund

By Devika Patel

Knoxville, Tenn., April 17 – Barclays Bank plc plans to price callable contingent coupon notes due April 26, 2021 linked to the lesser performing of the Euro Stoxx 50 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 quarterly coupon at an annual rate of 10.5% per year if each underlying closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.

The notes are callable in whole but not in part on any contingent coupon payment date beginning in October 2017.

The payout at maturity will be par unless either underlying finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing underlying.

Barclays is the agent.

The notes (Cusip: 06741VS60) will price on April 21 and settle on April 28.

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