Barclays plans phoenix autocallables due 2019 linked to three stocks

By Lisa Mayntz

Chicago, Feb. 21 – Barclays Bank plc plans to price phoenix autocallable notes due Feb. 25, 2019 linked to the least performing of three common stocks, Ford Motor Co., Delta Airlines, Inc. and eBay, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each stock closes at or above the barrier level, 50% of its initial level, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter. The contingent coupon is expected to be between 9% and 10% per year and will be set at pricing.

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 other than the final one. If the notes are not called and each stock finishes at or above the 50% barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the lowest performing stock is less its initial level.

Barclays is the agent.

The notes will price on Feb. 23 and settle on Feb. 28.

The Cusip number is 06741VK50.

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