Barclays to price phoenix autocallables linked to ETFs, Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., Oct. 23 – Barclays Bank plc plans to price phoenix autocallable notes due April 29, 2021 linked to the least performing of the Euro Stoxx 50 index, the Financial Select Sector SPDR fund and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon if each underlier closes at or above its barrier value, 70% of its initial level, on a quarterly observation date. The contingent coupon rate is expected to be 6.8% to 7.8% per year and will be set at pricing. The first observation date will be Jan. 25, 2019.

Beginning April 25, 2019, the notes will be automatically called at par if each underlier closes at or above its initial level on any observation date other than the final one.

If the notes are not called and the final level of each underlier is greater than its barrier value, the payout will be par. Otherwise, investors will have one-to-one exposure to the decline of the least-performing underlier.

Barclays is the agent.

The notes will price Oct. 25.

The Cusip number is 06744CG96.

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