Barclays plans phoenix autocallables tied to Euro Stoxx, Russell 2000

By Susanna Moon

Chicago, Nov. 10 – Barclays Bank plc plans to price phoenix autocallable notes due Feb. 28, 2017 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 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 7.75% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.

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

The payout at maturity will be par plus the contingent coupon unless either index falls and either index ever closes below its 70% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.

Barclays is the agent.

The notes will price on Nov. 24 and settle on Nov. 30.

The Cusip number is 06741UT38.

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