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Barclays plans 15.5%-16.5% autocallable notes tied to energy stocks
New York, July 19 – Barclays Bank plc plans to price autocallable notes due July 30, 2019 linked to the least performing of the common stocks of Chesapeake Energy Corp., Hess Corp. and Southwestern Energy Co., according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is expected to be 15.5% to 16.5%. Interest will be payable monthly.
The notes will be called at par plus the coupon if each stock closes at or above its initial share price on any quarterly call valuation date.
The payout at maturity will be par unless any stock finishes below its barrier price, 50% of its initial share price, in which case investors will receive par minus 1% for every 1% that the worst-performing stock declines from its initial share price.
Barclays is the agent.
The notes will price on July 25 and settle on July 28.
The Cusip number is 06744CCM1.
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