Barclays plans to price phoenix autocallables tied to Russell, S&P 500

By Tali Rackner

Norfolk, Va., March 28 – Barclays Bank plc plans to price phoenix autocallable notes due March 31, 2026 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 quarterly contingent coupon at an annual rate of 7.75% if each index closes at or above its coupon barrier level, 70% of its initial level, on each observation date.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any observation date prior to the final date.

The payout at maturity will be par plus the contingent coupon unless either index finishes below its 50% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.

Barclays is the agent.

The notes will price on March 29 and settle on March 31.

The Cusip number is 06741U6U3.

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