Barclays plans phoenix autocallables tied to Russell, S&P, Nasdaq-100

By Devika Patel

Knoxville, Tenn., Dec. 23 – Barclays Bank plc plans to price phoenix autocallable notes due Dec. 31, 2019 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a semiannual contingent coupon at the rate of 8.4% to 8.9% per year if each index closes at or above its barrier level, 72% of its initial level, on the observation date for that quarter. Otherwise, no coupon will be paid for that semiannual period. The exact coupon will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any observation date beginning Dec. 27, 2017.

The payout at maturity will be par unless the least-performing index finishes below its 72% barrier level, in which case investors will lose 1% for each 1% decline of the worst-performing index.

Barclays is the agent.

The notes (Cusip: 06741VFU1) will price on Dec. 27 and settle on Dec. 30.

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