Barclays plans three-year phoenix autocallables tied to two stocks

By Susanna Moon

Chicago, Oct. 19 – Barclays Bank plc plans to price phoenix autocallable notes due Oct. 30, 2020 linked to the least performing of the common stocks of MetLife, Inc. and Prudential Financial, 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 8.4% if each stock closes at or above its coupon barrier, 70% of its initial price, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial price on any quarterly observation date other than the final date.

The payout at maturity will be par unless either stock finishes below its 70% trigger level, in which case investors will receive par plus the return of the worse performing stock.

Barclays is the agent.

The notes will price on Oct. 26 and settle on Oct. 31.

The Cusip number is 06744CE80.

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