Barclays eyes five-year phoenix autocallables linked to Euro Stoxx 50

By Devika Patel

Knoxville, Tenn., Jan. 3 – Barclays Bank plc plans to price phoenix autocallable notes due Jan. 10, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a semiannual contingent coupon at an annual rate of between 9% and 9.5% if the index closes at or above its coupon barrier level, 75% of its initial level, on each observation date. The exact coupon will be set at pricing.

Beginning on July 5, 2018, the notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any observation date other than the final one.

If the index finishes at or above its 75% barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.

Barclays is the agent.

The notes (Cusip: 06744CRG8) will price on Jan. 5 and settle on Jan. 10.

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