Barclays plans to price phoenix autocallables linked to three stocks

By Wendy Van Sickle

Columbus, Ohio, Jan. 12 – Barclays Bank plc plans to price phoenix autocallable notes due Jan. 22, 2021 linked to the common stocks of General Electric Co., the common units of Plains All American Pipeline, LP and the ordinary shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 12% if the worst performing stock closes at or above the coupon barrier price, 60% of the initial price, on the observation date for that month.

After six months, if the worst performing stock closes at or above its initial price on any monthly observation date other than the final one, the notes will be called at par.

The payout at maturity will be par plus any coupon unless the worst performing stock finishes below its 50% barrier price, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.

Barclays is the agent.

The notes (Cusip: 06744CSP7) will price on Jan. 19 and settle on Jan. 26.

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