Barclays plans one-year phoenix autocallable notes linked to Macy's

By Susanna Moon

Chicago, Sept. 18 - Barclays Bank plc plans to price phoenix autocallable notes due Oct. 8, 2014 linked to Macy's Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if Macy's stock closes at or above the 80% barrier level on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if Macy's shares close at or above the initial share price on any quarterly observation date.

If the notes are not called and Macy's shares finish at or above the barrier, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

Barclays is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

The notes will price on Sept. 20 and settle on Sept. 25.

The Cusip number is 06741TM38.

© 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.