Barclays to price phoenix autocallable notes due 2016 linked to MGM

By Jennifer Chiou

New York, March 4 – Barclays Bank plc plans to price phoenix autocallable notes due March 30, 2016 linked to MGM Resorts International shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 14.7% if MGM 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 MGM shares close at or above the initial share price on any observation date.

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: 06741USH8) will price on March 6 and settle on March 11.

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

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