Barclays plans to price phoenix autocallable notes tied to Netflix

By Tali Rackner

Norfolk, Va., Sept. 15 – Barclays Bank plc plans to price phoenix autocallable notes due Sept. 20, 2018, linked to the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 13.55% if Netflix closes at or above the barrier price, 65% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.

The notes will be automatically called at par if Netflix closes at or above the initial share price on any observation date.

If the notes are not called, the payout at maturity will be par unless Netflix finishes below the barrier price, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.

Barclays is the agent.

The notes will price on Sept. 16 and settle on Sept. 21.

The Cusip number is 06741VBQ4.

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