Barclays plans one-year phoenix autocallables linked to Russell, Stoxx

By Susanna Moon

Chicago, July 11 – Barclays Bank plc plans to price phoenix autocallable notes due July 28, 2017 linked to the lesser performing of the Russell 2000 index and Euro Stoxx 50 index, 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 index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. The exact rate will be set at pricing.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on either the second or third observation date.

The payout at maturity will be par unless either index finishes below its initial level and ever closes below its 70% barrier level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing fund.

Barclays is the agent.

The notes will price on July 26 and settle on July 29.

The Cusip number is 06741V6G2.

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