Barclays plans phoenix autocallable notes tied to Nasdaq, the Dow

By Sarah Lizee

Olympia, Wash., June 13 – Barclays Bank plc plans to price phoenix autocallable notes due July 6, 2020 linked to the lesser performing of the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 9% if each underlying asset closes at or above its 75% coupon barrier on the observation date for that period.

The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly observation date other than the final date after six months.

The payout at maturity will be par unless either underlying asset ever closes below its 75% knock-in level on any day during the life of the notes and either index finishes below its initial level, in which case investors will be exposed to any losses of the worse performing index.

Barclays is the agent.

The notes will price on June 28.

The Cusip number is 06747MWB8.

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