Barclays plans to price 8.65% autocallables linked to three stocks

By Angela McDaniels

Tacoma, Wash., Jan. 9 – Barclays Bank plc plans to price 8.65% autocallable notes due July 25, 2016 linked to a basket of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes Norfolk Southern Corp., Kansas City Southern and Union Pacific Corp.

Interest will be payable monthly.

The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly call valuation date.

If the notes are not called and the final price of the least-performing stock is greater than or equal to its barrier level, 70% of its initial share price, the payout at maturity will be par. Otherwise, investors will receive par minus the decline of the least-performing stock or, at the issuer’s option, a number of shares of the least-performing stock equal to $1,000 divided by the initial share price of that stock.

Barclays is the agent.

The notes are expected to price Jan. 20 and settle Jan. 23.

The Cusip number is 06741UPH1.

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