Barclays plans to price 8% autocallable notes on four securities

By Toni Weeks

San Luis Obispo, Calif., Feb. 5 – Barclays Bank plc plans to price autocallable notes due Aug. 16, 2016 linked to the worst-performing of four common stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The four securities are the common stocks of Travelers Cos., Inc., MetLife, Inc. and Aetna Inc. and the class B common stock of Berkshire Hathaway Inc.

The notes carry a coupon of 8% per year, payable monthly.

If each stock closes at or above its initial price on a quarterly observation date, the notes will be called at par.

If the notes are not called and each stock finishes at or above its barrier price, 70% of its initial price, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the worst-performing stock equal to the principal amount divided by the initial price of the worst-performing stock or, at the issuer’s option, the cash value of those shares.

The notes (Cusip: 06741UQT4) are expected to price Feb. 11 and settle Feb. 17.

Barclays is the agent.

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