Barclays plans to price phoenix autocallable notes tied to index, ETF

By Sarah Lizee

Olympia, Wash., May 8 – Barclays Bank plc plans to price phoenix autocallable notes due May 18, 2023 linked to the least performing of the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 8% if each asset closes at or above its 60% coupon barrier on the related observation date.

The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly call observation date after one year.

The payout at maturity will be par unless either asset falls by more than 40%, in which case investors will lose 1% for each 1% loss.

Barclays is the agent.

The notes will price on May 14.

The Cusip number is 06747MR99.

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