Barclays to settle phoenix autocallable notes on two stocks

By Emma Trincal

New York, Feb. 26 – Barclays Bank plc plans to settle phoenix autocallable notes due Aug. 30, 2022 linked to the least performing of the stocks of Southwest Airlines Co. and Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 20% if each stock closes at or above its 70% coupon barrier on a related observation date.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call observation date after six months.

The payout at maturity will be par plus any coupon unless any stock finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing stock.

Barclays is the agent.

The notes were expected to price on Feb. 25 and to settle on March 2.

The Cusip number is 06748E7L1.

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