Barclays plans to price phoenix autocallables linked to Alibaba Group

By Angela McDaniels

Tacoma, Wash., July 12 – Barclays Bank plc plans to price phoenix autocallable notes due July 19, 2018 linked to the American Depositary Shares representing the ordinary shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 11.1% per year if Alibaba ADSs close at or above the barrier price, 75% of the initial ADS price, on the observation date for that quarter.

The notes will be automatically called at par if Alibaba ADSs close at or above the initial ADS price on any quarterly observation date other than the final one.

If the notes are not called and the final ADS price is greater than the barrier price, the payout will be par. Otherwise, investors will have one-to-one exposure to the ADSs’ decline.

Barclay is the agent.

The notes will price July 15.

The Cusip number is 06741V6P2.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.