Barclays to price contingent interest autocallables linked to Lowe’s

By Angela McDaniels

Tacoma, Wash., April 23 – Barclays Bank plc plans to price autocallable contingent interest notes due May 13, 2020 linked to the common stock of Lowe’s Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If Lowe’s stock closes at or above the buffer value, 83% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon that quarter at the rate of 8% per year plus any previously unpaid contingent coupons.

The notes will be automatically called at par if Lowe’s stock closes at or above the initial share price on any quarterly review date other than the final review date.

If the notes have not been called, the payout at maturity will be par unless the final share price is less than the buffer value, in which case investors will lose 1.20482% for every 1% that the stock declines beyond 17%.

Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

The notes will price April 26.

The Cusip number is 06747MPW0.

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