Barclays plans 10.8% buffer phoenix autocalls on Stoxx banks, fund

By Susanna Moon

Chicago, Aug. 28 – Barclays Bank plc plans to price buffered phoenix autocallable notes due March 10, 2026 linked to the lesser performing of the Euro Stoxx banks index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 10.8% if each underlying asset closes at or above its 80% coupon barrier on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date other than the final date beginning with the 12th date.

The payout at maturity will be par unless either underlying asset falls by more than 30%, in which case investors will be exposed to any losses of the worse performing index or fund beyond the 30% buffer.

Barclays is the agent.

The notes will price on Sept. 5 and settle on Sept. 10.

The Cusip number is 06746XN90.

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