Barclays plans contingent coupon autocallables tied to three indexes

By Sarah Lizee

Olympia, Wash., Aug. 31 – Barclays Bank plc plans to price autocallable market-linked securities with contingent coupon and contingent downside due Sept. 29, 2022 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8% to 9% if each index closes at or above its 75% coupon barrier on the observation date for that quarter.

The notes will be called at par plus the coupon if each asset closes at or above its initial level on any call valuation dates from March 2019 to June 2022.

If the notes are not called, the payout at maturity will be par unless any index closes below its 75% trigger level, in which case investors will be exposed to any losses of the worst performing index.

Barclays and Wells Fargo Securities, LLC are the agents.

The notes will price on Sept. 27 and settle on Oct. 2.

The Cusip number is 06746XNM1.

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