Barclays plans 10.5%-11.5% three-year phoenix autocalls tied to stocks

By Susanna Moon

Chicago, April 4 – Barclays Bank plc plans to price phoenix autocallable notes due April 15, 2021 linked to the common stocks of Raymond James Financial, Inc., Applied Materials, Inc. and Carmax, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.5% to 11.5% if each underlying asset closes at or above its 50% coupon barrier on the observation date for that quarter.

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

The payout at maturity will be par unless any underlying asset closes below its 50% barrier 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 April 12.

The Cusip number is 06746X3E1.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.