Barclays plans phoenix autocallables on indexes, iShares MSCI EAFE

By Angela McDaniels

Tacoma, Wash., May 26 – Barclays Bank plc plans to price phoenix autocallable notes due May 29, 2020 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 9.5% per year if each underlying component closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.

The notes will be called at par plus the contingent coupon if each underlying component closes at or above its initial level on any quarterly observation date.

If the notes are not called and the final level of the least-performing underlying component is greater than or equal to its barrier level, 50% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the least-performing underlying component finishes below its initial level.

Barclays is the agent.

The notes will price May 27 and settle May 29.

The Cusip number is 06741UXA7.

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