New Issue: Barclays sells $3.31 million callable contingent coupon notes on Russell, S&P, Nasdaq

By William Gullotti

Buffalo, N.Y., June 2 – Barclays Bank plc priced $3.31 million of callable contingent coupon notes due May 1, 2025 linked to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly coupon at an annualized rate of 13.5% if each index closes at or above its coupon barrier level, 80% of its initial level, on the related observation date.

The notes will be callable in whole at par plus any coupon due on any monthly call date after three months.

If the notes are not redeemed early, the payout at maturity will be par plus the final coupon if each index’s final value is greater than or equal to its coupon barrier.

If the worst performer finishes below its coupon barrier but at or above the 70% final barrier level, par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying indexes:	Nasdaq-100 index, Russell 2000 index, S&P 500 index
Amount:	$3,311,000
Maturity:	May 1, 2025
Contingent coupon:	13.5% per year, payable monthly if each index closes at or above coupon barrier on the observation date for that period
Price:	Par
Payout at maturity:	Par plus final coupon if each index finishes at or above coupon barrier; if worst performer finishes below its coupon barrier but at or above final barrier level, par; otherwise, full exposure to decline of the worst performer from its initial level
Call option:	In whole at par plus any coupon due on any monthly call date after three months
Initial levels:	13,245.99 for Nasdaq, 4,169.48 for S&P, 1,768.987 for Russell
Coupon barriers:	10,596.79 for Nasdaq, 3,335.58 for S&P, 1,415.19 for Russell; 80% of initial levels
Final barrier levels:	9,272.19 for Nasdaq, 2,918.64 for S&P, 1,238.29 for Russell; 70% of initial levels
Pricing date:	April 28
Settlement date:	May 3
Agent:	Barclays
Fees:	0.8%
Cusip:	06745M2N7

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