Barclays plans to price phoenix autocallable notes tied to three stocks

By Wendy Van Sickle

Columbus, Ohio, Nov. 2 – Barclays Bank plc plans to price phoenix autocallable notes due Nov. 30, 2018 linked to the least performing of three common stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying stocks are CBS Corp., Netflix, Inc. and Starbucks Corp.

Each month, the notes will pay a contingent coupon at an annual rate of 9% to 10% if each stock closes at or above its barrier level, 50% of its initial price on the observation date for that month.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial price on any quarterly call valuation date.

The payout at maturity will be par plus the contingent coupon unless any stock finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing stock.

Barclays is the agent.

The notes (Cusip: 06741VDN9) will price Nov. 28 and settle on Nov. 30.

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