Barclays to price phoenix autocallables tied to Nasdaq, Dow

By Sarah Lizee

Olympia, Wash., March 7 – Barclays Bank plc plans to price phoenix autocallable notes due March 31, 2020 linked to the least performing of the Nasdaq-100 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of between 5.25% and 6.25% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.

The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date beginning with the second observation date.

The payout at maturity will be par if the final value of the least performing index is greater than its initial value or it is less than its initial value but neither index has closed below 75% during the life of the notes.

Otherwise, investors will be fully exposed to the losses of the least performing index.

Barclays is the agent.

The notes will price March 26.

The Cusip number is 06747MGK6.

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