Barclays plans 8.75%-9.25% phoenix autocalls on Russell, two funds

By Susanna Moon

Chicago, July 18 – Barclays Bank plc plans to price phoenix autocallable notes due July 30, 2020 linked to the Russell 2000 index, the SPDR S&P Oil & Gas Exploration & Production ETF and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 8.75% to 9.25% if each underlying asset closes at or above its 65% 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 other than the final date beginning with the sixth date.

The payout at maturity will be par unless any underlying asset falls by below its 60% trigger level, in which case investors will be exposed to any losses of the worse performing index or fund.

Barclays is the agent.

The notes will price on July 25 and settle on July 30.

The Cusip number is 06746XJM6.

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