Barclays plans autocallable trigger PLUS linked to General Electric

By Marisa Wong

Madison, Wis., Aug. 15 – Barclays Bank plc plans to price 0% autocallable trigger Performance Leveraged Upside Securities due Aug. 25, 2017 linked to the common stock of General Electric Co., according to an FWP filing with the Securities and Exchange Commission.

If the stock closes at or above 124% of the initial price on Feb. 29, 2016, the notes will be automatically redeemed at the early redemption payment, which will be at least $12.40 per $10 principal amount.

If the notes are not called and the final share price is greater than the initial price, the payout at maturity will be par plus at least 124% of the gain.

If the stock finishes at or above 70% of the initial price, the payout will be par.

Otherwise, the payout will be a number of shares of General Electric stock equal to $10 divided by the initial price or the cash equivalent.

The exact deal terms will be set at pricing.

Barclays is the agent.

The notes will price on Aug. 22.

The Cusip number is 06742W216.

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