Barclays plans 11% autocallable reverse convertibles tied to Facebook

By Toni Weeks

San Luis Obispo, Calif., Nov. 13 - Barclays Bank plc plans to price 11% autocallable reverse convertible notes due Dec. 3, 2014 linked to the common stock of Facebook, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The notes will be automatically called at par if Facebook shares close at or above the initial share price on Feb. 27, 2014, May 29, 2014 or Aug. 8, 2014.

If the notes are not called, the payout at maturity will be par unless the final share price is less than the 65% barrier price, in which case the payout will be par plus the stock return, with full exposure to losses.

The final share price will be the average of the closing prices on five trading days ending Nov. 28, 2014.

Barclays is the agent.

The notes will price Nov. 15 and settle Nov. 20.

The Cusip number is 06741TY76.

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