Barclays plans phoenix autocallable notes tied to Russell, S&P 500

By Wendy Van Sickle

Columbus, Ohio, March 14 – Barclays Bank plc plans to price phoenix autocallable notes due March 22, 2029 linked to the lesser performing of 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 quarterly coupon at an annual rate of 5.45% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that period.

The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly observation date other than the final date after one year.

The payout at maturity will be par unless either underlying asset finishes below its 60% barrier level, in which case investors will be exposed to any losses of the worse performing index.

Barclays is the agent.

The notes will price on March 18.

The Cusip number is 06747MJG2.

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