Barclays to price phoenix autocallable notes linked to Ford

By Angela McDaniels

Tacoma, Wash., Sept. 11 - Barclays Bank plc plans to price phoenix autocallable notes due Oct. 1, 2014 linked to the common stock of Ford Motor Co., according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 14% per year if Ford stock closes at or above the barrier, 80% of the initial share price, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if Ford shares close at or above the initial share price on any quarterly observation date.

If the notes are not called and Ford shares finish at or above the barrier, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the stock's decline.

The final share price will be the average of the stock's closing share prices on Sept. 22, 2014, Sept. 23, 2014, Sept. 24, 2014, Sept. 25, 2014 and Sept. 26, 2014.

Barclays is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

The notes are expected to price Sept. 13 and settle Sept. 18.

The Cusip number is 06741TK22.

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