Barclays plans 15% phoenix autocalls on Alibaba, Facebook, Netflix

New York, May 10 – Barclays Bank plc plans to price 15% phoenix autocallable notes due May 14, 2020 linked to the least performing of the American Depositary Shares of Alibaba Group Holding Ltd., the class A common stock of Facebook, Inc. and the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 15% if each stock closes at or above its 60% coupon barrier on the related quarterly observation date.

Beginning in November 2018, the notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly observation date other than the final date.

The payout at maturity will be par unless any stock finishes below its 60% barrier price, in which case investors will be fully exposed to any losses of the worst performing stock.

Barclays is the agent.

The notes will price on May 11 and settle on May 18.

The Cusip number is 06746XBX0.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.