Barclays plans contingent payment autocallables due 2022 tied to S&P

By Susanna Moon

Chicago, Sept. 25 – Barclays Bank plc plans to price autocallable contingent payment notes due 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event will occur if the index ever closes below its 88% barrier level on any trading day during any Coupon Period.

The notes will pay a contingent monthly coupon at an annualized rate of 4.75% if a knock-out event does not occur during the valuation period for that month.

If a knock-in event does not occur during a coupon period, the notes will be called at par plus the contingent coupon.

If the notes are not called, the payout at maturity will be par plus the index return and an additional percentage of 12%.

Barclays is the agent.

The notes will price on Sept. 29.

The Cusip number is 06744C4A6.

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