Barclays plans autocallable contingent coupon notes linked to indexes

By Devika Patel

Knoxville, Tenn., July 11 – Barclays Bank plc plans to price buffered autocallable contingent coupon index-linked notes due July 23, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 7.05% if each index closes at or above its coupon barrier, 75% of its initial level, on the review date for that month.

Beginning on July 11, 2018 and ending on April 11, 2024, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call date.

The payout at maturity will be par plus the final coupon unless either index finishes below the 75% buffer level, in which case investors will lose 1% for each 1% decline of the worse performing index beyond the buffer level.

Barclays is the agent.

The notes (Cusip: 06744CBM2) will price on July 18 and settle July 21.

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