Barclays plans to price phoenix autocallables linked to three stocks

By Devika Patel

Knoxville, Tenn., Sept. 21 – Barclays Bank plc plans to price phoenix autocallable notes due Sept. 26, 2019 linked to the common stocks of Facebook Inc., Citigroup Inc. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13% if the worst performing stock closes at or above the coupon barrier price, 70% of the initial price, on the observation date for that quarter.

If the worst performing stock closes at or above its initial price on any quarterly observation date other than the final one, beginning Dec. 22, 2017, the notes will be called at par.

The payout at maturity will be par unless the worst performing stock finishes below its 70% barrier price, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level or, at the company’s option a number of shares of the worst performing stock equal to the principal divided by the initial share price.

Barclays is the agent.

The notes (Cusip: 06741WDA5) will price on Sept. 22 and settle on Sept. 29.

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