Barclays plans to price phoenix autocallables linked to Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., April 5 – Barclays Bank plc plans to price phoenix autocallable notes due April 26, 2017 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 10.8% per year if the index closes at or above its coupon barrier level, 80% of its initial level, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.

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

The payout at maturity will be par if the index finishes at or above its barrier level, 80% of its initial level. Otherwise, investors will be fully exposed to the index’s decline.

The final index level will be the average of its closing levels on the five trading days ending April 21, 2017.

Barclays, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

The notes will price April 8.

The Cusip number is 06741V2A9.

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