Barclays to price phoenix autocallables on three financial stocks

By Marisa Wong

Morgantown, W.Va., Feb. 6 – Barclays Bank plc plans to price phoenix autocallable notes due Feb. 12, 2020 linked to the least performing of the common stocks of Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 12.5% if each stock closes at or above its 75% coupon barrier on the related quarterly observation date.

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 other than the final date.

The payout at maturity will be par unless any stock finishes below its 75% barrier level, in which case investors will be fully exposed to any losses to the worst performing stock. The issuer may choose to settle the payout in shares of the worst performing stock if it finishes below the barrier.

Barclays is the agent.

The notes will price on Feb. 7.

The Cusip number is 06741WDW7.

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