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Barclays plans to price phoenix autocallables linked to three stocks
By Devika Patel
Knoxville, Tenn., Jan. 2 – Barclays Bank plc plans to price phoenix autocallable notes due July 16, 2020 linked to the common stocks of Facebook Inc., Twitter, Inc. and SNAP Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.5% if the worst performing stock closes at or above the coupon barrier price, 50% of the initial price, on the observation date for that quarter.
If the worst performing stock closes at or above its initial price on any quarterly observation date other than the final one, beginning April 12, 2018, the notes will be called at par.
The payout at maturity will be par unless the worst performing stock finishes below its 50% barrier price, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
Barclays is the agent.
The notes (Cusip: 06744CQ95) will price on Jan. 12 and settle on Jan. 18.
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