Barclays plans to price phoenix autocallables on index, two ETFs

By Toni Weeks

San Luis Obispo, Calif., June 2 – Barclays Bank plc plans to price phoenix autocallable notes due June 6, 2019 linked to the lesser performing of the Russell 2000 index, the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 8.8% per year if each component closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that month. Otherwise, no coupon will be paid for that month.

The notes will be called at par plus the contingent coupon if each component closes at or above its initial level on any quarterly observation date other than the final date.

If the notes are not called and the final level of the lesser-performing component is greater than or equal to its barrier level, 65% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the lesser-performing component finishes below its initial level.

The notes (Cusip: 06741UXV1) are expected to price June 3 and settle June 8.

Barclays is the agent.

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