Barclays plans to price phoenix autocallables linked to three stocks

By Devika Patel

Knoxville, Tenn., Jan. 5 – Barclays Bank plc plans to price phoenix autocallable notes due Jan. 13, 2022 linked to the common stocks of American Airlines Group Inc., Morgan Stanley and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 17.76% if the worst performing stock closes at or above the coupon barrier price, 65% of the initial price, on the observation date for that month.

Beginning July 10, 2018, if the worst performing stock closes at or above its initial price on any monthly observation date other than the final one, the notes will be called at par.

The payout at maturity will be par plus any coupon unless the worst performing stock finishes below its 60% barrier price, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.

Barclays is the agent.

The notes (Cusip: 06741WDN7) will price on Jan. 10 and settle on Jan. 18.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.