Barclays plans 12% phoenix autocalls due 2021 linked to four stocks

By Sarah Lizee

Olympia, Wash., Sept. 6 – Barclays Bank plc plans to price phoenix autocallable notes due Sept. 28, 2021 linked to the least performing of the common stocks of Facebook, Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 12% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that month.

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

The payout at maturity will be par unless any underlying asset finishes below its 60% trigger level, in which case investors will be exposed to any losses of the worse performing stock.

Barclays is the agent.

The notes will price on Sept. 25 and settle on Sept. 28.

The Cusip number is 06746XP49.

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