Barclays plans to price phoenix autocallables linked to three stocks

By Angela McDaniels

Tacoma, Wash., Dec. 20 – Barclays Bank plc plans to price phoenix autocallable notes due Dec. 29, 2022 linked to the least performing of the common stocks of Northrup Grumman Corp., Boeing Co. and General Dynamics Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 11.25% per year if each stock closes at or above its barrier value, 60% of its initial share price, on the observation date for that quarter.

Beginning six months after issuance, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly observation date.

The payout at maturity will be par unless any stock finishes below its barrier value, in which case investors will lose 1% for every 1% that the least-performing stock declines from its initial share price.

Barclays is the agent.

The notes will price Dec. 23.

The Cusip number is 06741WFW5.

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