Barclays plans 6.25% three-year autocallables tied to Russell, S&P 500

By Susanna Moon

Chicago, June 19 – Barclays Bank plc plans to price 6.25% autocallable notes due Dec. 30, 2016 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The notes will be called at par if each component closes at or above its initial level on June 27, 2016 or Sept. 26, 2016.

A knock-in event will occur if either index ever closes below its 70% barrier level on any trading day during the life of the notes.

The payout at maturity will be par unless either index finishes below its initial level and a knock-in event occurs, in which case investors will be fully exposed to any losses of the worst performing component.

Barclays is the agent.

The notes will price on June 26 and settle on July 1.

The Cusip number is 06741UYQ1.

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