Barclays plans phoenix autocallable notes tied to homebuilders ETF

By Emma Trincal

New York, Aug. 31 – Barclays Bank plc plans to price phoenix autocallable notes due Sept. 3, 2021 linked to the SPDR S&P Homebuilders exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11.55% if the fund closes at or above its 75% coupon barrier on the observation date for that period.

The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any quarterly observation date other than the final date after one year.

The payout at maturity will be par unless the fund finishes below its 75% barrier, in which case investors will be exposed to any losses.

Barclays is the agent.

The notes were set to price on Aug. 31 and will settle on Sept. 3.

The Cusip number is 06747QGB7.

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