Barclays plans phoenix autocallable notes due 2016 linked to Apple

By Susanna Moon

Chicago, Aug. 6 – Barclays Bank plc plans to price phoenix autocallable notes due Aug. 24, 2016 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13.16% if each stock close at or above the coupon barrier level, 80% of the initial share price, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any observation date.

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

Barclays is the underwriter.

The notes will price on Aug. 7 and will settle on Aug. 12.

The Cusip number is 06741UE26.

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