Barclays plans 6.25% rate phoenix autocallables tied to S&P, Russell

By Susanna Moon

Chicago, Jan. 18 – Barclays Bank plc plans to price phoenix autocallable notes due Jan. 27, 2028 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 6.25% if each index closes at or above its 65% coupon barrier on the observation date for that month.

The notes will be called at par plus the contingent coupon if each index closes at or above its 105% call level on any observation date other than the final date beginning with the third date.

The payout at maturity will be par unless either index finishes below its 65% trigger, 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 Jan. 22.

The Cusip number is 06741WDQ0.

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