Barclays plans five-year phoenix autocallables tied to S&P MidCap 400

By Devika Patel

Knoxville, Tenn., Oct. 17 – Barclays Bank plc plans to price phoenix autocallable notes due Oct. 26, 2021 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a semiannual contingent coupon at an annual rate of 9% to 9.5% if the index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for the applicable semiannual period. The exact coupon rate will be set at pricing.

The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any observation date other than the final one.

If the index finishes at or above its 75% barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline below the initial level.

Barclays is the agent.

The notes (Cusip: 06741VD82) will price on Oct. 21 and settle on Oct. 26.

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