Barclays plans buffered phoenix autocallables on Euro Stoxx, EM ETF

By Marisa Wong

Morgantown, W.Va., Feb. 27 – Barclays Bank plc plans to price buffered phoenix autocallable notes due March 3, 2023 linked to the least performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 9.1% if each asset closes at or above its 80% coupon barrier on the observation date for that quarter.

After one year, 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 prior to maturity.

The payout at maturity will be par unless either asset falls by more than 20%, in which case investors will be exposed to declines of the worst performing asset beyond 20%.

Barclays is the agent.

The notes will price on Feb. 28.

The Cusip number is 06744CYN5.

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