Barclays plans to price phoenix autocallables linked to three stocks

By Devika Patel

Knoxville, Tenn., July 13 – Barclays Bank plc plans to price phoenix autocallable notes due July 30, 2020 linked to the common stocks of Raytheon Co., Charles Schwab Corp. and Marathon Oil Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 11% to 12% if the worst performing stock closes at or above the barrier price, 50% of the initial price, on the observation date for that month.

If the worst performing stock closes at or above its initial price on any quarterly observation date beginning on Oct. 26, 2017, the notes will be called at par of $1,000 plus the contingent coupon.

The payout at maturity will be par plus the contingent coupon unless the worst performing stock finishes below its 50% barrier price, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.

Barclays is the agent.

The notes (Cusip: 06744CBD2) will price on July 26 and settle on July 31.

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