Barclays plans to price phoenix autocallable notes linked to Chevron

By Jennifer Chiou

New York, Dec. 17 – Barclays Bank plc plans to price phoenix autocallable notes due Jan. 6, 2016 linked to Chevron Corp. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13.85% if the stock closes at or above the coupon barrier, 80% of the initial share price, on the observation date for that quarter.

The notes will be called at par if Chevron shares close at or above the initial share price on any quarterly observation date beginning on April 2, 2015.

The payout at maturity will be par unless the stock finishes below the 80% trigger level, in which case investors will be fully exposed to any losses.

The notes (Cusip: 06741UNH3) will price on Dec. 19 and settle on Dec. 24.

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

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