Barclays plans buffered phoenix autocallables linked to four stocks

By Marisa Wong

Morgantown, W.Va., May 18 – Barclays Bank plc plans to price buffered phoenix autocallable notes due Aug. 26, 2019 linked to the least performing of the common stock of salesforce.com, inc., Alibaba Group Holding Ltd., Facebook, Inc. and Intuitive Surgical, 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 14.25% if each stock closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any observation date prior to maturity.

The payout at maturity will be par unless any stock falls by more than 15%, in which case investors will be exposed to declines of the worst performing stock beyond 15%.

Barclays is the agent.

The notes will price on May 21.

The Cusip number is 06746XCN1.

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