Barclays to price phoenix callable notes linked to Euro Stoxx 50

By Toni Weeks

San Luis Obispo, Calif., June 23 – Barclays Bank plc plans to price phoenix callable notes due June 29, 2017 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 7% if the index closes at or above its coupon barrier, 78% of its initial level, on the observation date for that quarter.

If the index finishes at or above its 78% trigger level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

The final index level will be the average of the closing index levels on the five trading days ending June 26, 2017.

The notes are callable at par plus the coupon on any quarterly observation date other than the final observation date.

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

The notes (Cusip: 06741UYT5) will price June 24 and settle June 29.

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