Barclays plans buffered phoenix autocallables linked to three stocks

By Marisa Wong

Morgantown, W.Va., Nov. 10 – Barclays Bank plc plans to price buffered phoenix autocallable notes due Nov. 19, 2020 linked to the least performing of the common stock of Netflix, Inc., the class C common stock of Alphabet Inc. and the American Depositary shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 13% 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 plus the contingent coupon if each stock closes at or above its initial level on any observation date prior to maturity.

The payout at maturity will be par unless any stock falls by more than 20%, in which case investors will be exposed to declines of the worst performing stock beyond 20%.

Barclays is the agent.

The notes will price on Nov. 15.

The Cusip number is 06744CLE9.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.