Barclays plans one-year phoenix autocallable notes linked to Mylan

By Marisa Wong

Madison, Wis., July 8 – Barclays Bank plc plans to price phoenix autocallable notes due July 29, 2015 linked to Mylan Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 14.05% if Mylan stock closes at or above the barrier level, 80% of the initial share price, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if Mylan shares close at or above the initial share price on any quarterly observation date.

If the notes are not called and Mylan shares finish at or above the barrier level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

Barclays is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

The notes will price on July 11 and settle on July 16.

The Cusip number is 06741UFW9.

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