Barclays plans four-year phoenix autocallables tied to Amazon, Visa

By Susanna Moon

Chicago, Aug. 18 – Barclays Bank plc plans to price phoenix autocallable notes due Sept. 2, 2021 linked to the least performing of the common stocks of Amazon.com, Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% if each stock closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date other than the final date beginning with the second date.

The payout at maturity will be par plus the contingent coupon unless either stock finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing stock.

Barclays is the agent.

The notes will price on Aug. 28.

The Cusip number is 06744CGZ8.

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