Barclays to price phoenix autocallables linked to Dow, Russell, S&P

By Sarah Lizee

Olympia, Wash., Dec. 17 – Barclays Bank plc plans to price phoenix autocallable notes due Jan. 2, 2024 linked to the lesser performing of the Dow Jones Industrial Average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.75% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each asset closes at or above its initial value on any quarterly observation date beginning with the fourth one.

The payout at maturity will be par unless the least performing underlying asset closes below its 60% barrier level, in which case investors will be exposed to any losses of the worst performing underlier.

Barclays is the agent.

The notes will price on Dec. 27.

The Cusip number is 06747M4W3.

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