Barclays to price phoenix autocallables tied to S&P, Nasdaq

By Sarah Lizee

Olympia, Wash., Feb. 19 – Barclays Bank plc plans to price phoenix autocallable notes due March 6, 2024 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter the notes will pay a contingent coupon at the rate of 6.5% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.

The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.

If the notes are not called, the payout at maturity will be par unless either index finishes below its 75% barrier level, in which case investors will lose 1% for every 1% that the lesser-performing index declines.

Barclays is the agent.

The notes will price on March 1.

The Cusip number is 06747MEK8.

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