Barclays to price phoenix autocallable notes linked to four stocks

By Sarah Lizee

Olympia, Wash., Dec. 11 – Barclays Bank plc plans to price phoenix autocallable notes due Dec. 31, 2021 linked to the least performing of the common stocks of General Mills, Inc., Delta Air Lines, Inc., Deere & Co. and Royal Caribbean Cruises Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at a rate of 13% to 14% per year if each stock closes at or above its coupon barrier, 55% of its initial share price, on the related monthly observation date.

Beginning in June 2019, the notes will be automatically called at par if each stock closes at or above 90% of its initial share price on any quarterly determination date.

The payout at maturity will be par unless any stock finishes below its 52.5% barrier level, in which case investors will lose 1% for each 1% decline of the worst-performing stock.

Barclays is the agent.

The notes will price Dec. 28.

The Cusip number is 06747M4G8.

© 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.