Barclays to price autocallable market-linked step-up notes on Nasdaq

By Sarah Lizee

Olympia, Wash., May 18 – Barclays Bank plc plans to price 0% autocallable market-linked step-up notes due May 2022 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 10.15% to 11.5% if the index closes at or above its initial level on any annual observation date.

If the index finishes above the step-up level – 125% of the initial level – the payout at maturity will be par of $10 plus the index gain.

If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 25%.

Investors will be fully exposed to any index decline.

BofA Securities, Inc. is the agent.

The notes will price in May.

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