Barclays to price 9% autocallable notes linked to Russell, Euro Stoxx

By Angela McDaniels

Tacoma, Wash., Feb. 27 – Barclays Bank plc plans to price 9% autocallable notes due March 4, 2027 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

Beginning Feb. 28, 2019, the notes will be called if each index closes at or above its initial level on any quarterly call observation date. If the notes are called on the first call observation date, the payout will be par plus the coupon due. If the notes are called on a subsequent call observation date, the payout will be par plus a call premium equal to (a) 2.25% times (b) the number of call observation dates that have occurred to and including the call observation date on which the call occurs.

The payout at maturity will be par unless either index finishes below its barrier level, 50% of its initial level, in which case investors will receive par minus 1% for every 1% that the lesser-performing index declines from its initial level.

Barclays is the agent.

The notes will price Feb. 28.

The Cusip number is 06741VLJ9.

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