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Barclays to price phoenix autocallable notes linked to AbbVie
By Marisa Wong
Madison, Wis., March 10 – Barclays Bank plc plans to price phoenix autocallable notes due March 30, 2016 linked to AbbVie Inc. shares, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.2% if AbbVie 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 AbbVie shares close at or above the initial share price on any quarterly 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.
Barclays is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
The notes are expected to price on March 13 and settle on March 18.
The Cusip number is 06741USP0.
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