Barclays plans 10.25% contingent income autocalls linked to Netflix

By Susanna Moon

Chicago, July 27 – Barclays Bank plc plans to price contingent income autocallable securities due Aug. 6, 2021 linked to Netflix Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.25% if the underlying stock closes at or above the 60% downside threshold on the determination date for that quarter.

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

The payout at maturity will be par unless the stock finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline.

Barclays is the agent.

The notes will price on Aug. 3.

The Cusip number is 06746T243.

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