Barclays plans to price phoenix autocallables linked to General Motors

By Marisa Wong

Madison, Wis., June 18 – Barclays Bank plc plans to price phoenix autocallable notes due July 8, 2015 linked to General Motors Co. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13.85% if General Motors stock closes at or above the trigger level, 85% of the initial price, on a quarterly observation date.

The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any observation date.

If the notes are not called and General Motors shares finish at or above the trigger level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be exposed to any losses.

Barclays is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as the placement agents.

The notes are expected to price on June 20 and settle on June 25.

The Cusip number is 06741UFC3.

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