Barclays plans to price phoenix autocallables linked to three funds

By Wendy Van Sickle

Columbus, Ohio, Oct. 19 – Barclays Bank plc plans to price phoenix autocallable notes due Oct. 25, 2018 linked to the least performing of the iShares Nasdaq Biotechnology exchange-traded-fund, the Financial Select Sector SPDR fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 14.5% if each fund closes at or above its barrier level, 75% of its initial level, on the observation date for that period.

The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any observation date beginning other than the final date.

The payout at maturity will be par plus the contingent coupon unless any fund finishes below its barrier level, in which case investors will be fully exposed to the loss of the least performing fund.

Barclays is the agent.

The notes will price on Oct. 21 and settle on Oct. 26.

The Cusip number is 06741VDF6.

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