Barclays plans to price phoenix autocallables linked to three funds

By Angela McDaniels

Tacoma, Wash., Nov. 15 – Barclays Bank plc plans to price phoenix autocallable notes due Nov. 23, 2018 linked to the least performing of the iShares Nasdaq Biotechnology exchange-traded fund, the Financial Select Sector SPDR Fund and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 13.25% per year if each fund closes at or above its barrier price, 75% of its initial share price, on the observation date for that quarter.

The notes will be automatically called at par if each fund closes at or above the initial share price on any quarterly observation date other than the final one.

If the notes are not called and each fund 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 fund.

Barclays is the agent.

The notes will price Nov. 18.

The Cusip number is 06741VEF5.

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