Barclays plans phoenix autocallables linked to Russell 2000, S&P 500

By Wendy Van Sickle

Columbus, Ohio, Feb. 14 – Barclays Bank plc plans to price phoenix autocallable notes due March 2, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 7.25% if each index closes above its 70% coupon barrier on the observation date for that month.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on the observation dates in August or November.

The payout at maturity will be par plus the final contingent coupon unless either index ever closes below its 70% barrier level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.

Barclays is the agent.

The notes will price on Feb. 28 and settle on March 3.

The Cusip number is 06741VKR2.

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