Barclays to price phoenix autocallables due 2023 tied to S&P, Russell

By Sarah Lizee

Olympia, Wash., June 11 – Barclays Bank plc plans to price phoenix autocallable notes due June 15, 2023 linked to the least 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 quarterly coupon at an annual rate of 6.25% if each index closes at or above its 70% coupon barrier on the related observation date.

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

The payout at maturity will be par unless the least performing 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 June 12 and settle on June 15.

The Cusip number is 06746XFA6.

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