Barclays plans phoenix autocallable securities tied to EOG Resources

By Marisa Wong

Madison, Wis., April 15 – Barclays Bank plc plans to price phoenix autocallable securities due May 4, 2016 linked to the common stock of EOG Resources, Inc., according to an FWP with the Securities and Exchange Commission.

If EOG Resources stock closes at or above the barrier level, 80% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 11.3% for that quarter.

If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.

If the notes are not called and EOG Resources 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 the share price decline.

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

The notes will price on April 17 and settle on April 22.

The Cusip number is 06741UUK8.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.