Barclays to price phoenix autocallables linked to Apple, Dow, BofA

By Angela McDaniels

Tacoma, Wash., Aug. 8 – Barclays Bank plc plans to price phoenix autocallable notes due Aug. 30, 2018 linked to the common stocks of Apple Inc., Bank of America Corp. and Dow Chemical Co., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon if each stock closes at or above its barrier price, 50% of its initial share price, on the observation date for that month. The contingent coupon rate is expected to be 6% to 7% per year and will be set at pricing.

Beginning in November, the notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly call observation date.

If the notes are not called and the least-performing stock finishes at or above its barrier price, the payout will be par. Otherwise, investors will have one-to-one exposure to the decline of the least-performing stock from its initial share price.

Barclays is the agent.

The notes will price Aug. 25.

The Cusip number is 06741VA36.

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