Barclays plans contingent interest autocalls on Occidental Petroleum

By Sarah Lizee

Olympia, Wash., Aug. 6 – Barclays Bank plc plans to price autocallable contingent interest notes due Aug. 12, 2021 linked to Occidental Petroleum Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon, plus any previously unpaid coupons, at an annual rate of 10% if the stock closes at or above the coupon barrier level, 77% of the initial level, on the review date for that quarter.

The notes will be called at par plus the contingent coupon beginning after one year if the shares close at or above the initial share price on any review date other than the final one.

The payout at maturity will be par plus the final contingent interest payment unless the final share price is lower than the 77% buffer level, in which case investors will lose 1.2987% for each 1% decline beyond the buffer.

Barclays and J.P. Morgan Securities LLC are the agents.

The notes (Cusip: 06747ND27) will price on Aug. 7.

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