Barclays plans to price phoenix autocallable notes tied to Facebook

By Wendy Van Sickle

Columbus, Ohio, Sept. 13 – Barclays Bank plc plans to price phoenix autocallable notes due Sept. 20, 2018 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 9.75% if Facebook closes at or above the barrier price, 75% of the initial share price, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.

The notes will be automatically called at par if Facebook closes at or above the initial share price on any observation date.

If the notes are not called, the payout at maturity will be par unless Facebook finishes below the barrier price, in which case investors will lose 1% for every 1% that the final share price is less than the initial share price.

Barclays is the agent.

The notes will price Sept. 16.

The Cusip number is 06741VBP6.

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