Barclays plans autocallable notes with contingent coupon on indexes

By Sarah Lizee

Olympia, Wash., Oct. 24 – Barclays Bank plc plans to price autocallable notes due April 30, 2021 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of 7% to 8% if each index closes at or above its 70% coupon barrier on the determination date for that quarter.

The notes will be called at par if each index closes at or above its initial level on any quarterly determination date after six months.

The payout at maturity will be par plus the final coupon unless either index finishes below its 70% downside threshold, 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 Oct. 28.

The Cusip number is 06747NHZ0.

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