Barclays plans to price phoenix autocallables linked to three stocks

By Devika Patel

Knoxville, Tenn., July 20 – Barclays Bank plc plans to price phoenix autocallable notes due July 25, 2019 linked to the common stocks of Alibaba Group Holding Ltd., Bank of New York Mellon Corp. and Oasis Petroleum Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 25% if the worst performing stock closes at or above the coupon barrier price, 60% of the initial price, on the observation date for that quarter.

If the worst performing stock closes at or above its initial price on any quarterly observation date beginning on Oct. 21, 2017, the notes will be called at par of $1,000 plus the contingent coupon.

The payout at maturity will be par plus the contingent 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, or, at the issuer’s option, a number of shares of the worst performing stock equal to the principal divided by the initial share price, or at the issuer’s option, the cash equivalent.

Barclays is the agent.

The notes (Cusip: 06741WCQ1) will price on July 21 and settle on July 28.

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