Barclays plans 10.5%-11.5% autocallable notes linked to energy stocks

By Angela McDaniels

Tacoma, Wash., July 3 – Barclays Bank plc plans to price autocallable notes due July 31, 2019 linked to the least performing of the common stocks of Marathon Oil Corp., Hess Corp. and Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is expected to be 10.5% to 11.5%. Interest will be payable monthly.

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

The payout at maturity will be par unless any stock finishes below its barrier price, 55% of its initial share price, in which case investors will receive par minus 1% for every 1% that the worst-performing stock declines from its initial share price.

Barclays is the agent.

The notes will price July 26.

The Cusip number is 06744CAE1.

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