Barclays eyes phoenix autocallables tied to S&P, Russell, S&P Oil ETF

By Devika Patel

Knoxville, Tenn., June 17 – Barclays Bank plc plans to price phoenix autocallable notes due June 24, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly contingent coupon at the rate of 10.75% per year if each asset closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that month.

The notes will be automatically called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly call observation date after one year.

If each asset finishes at or above its 60% barrier level, the payout at maturity will be par plus any coupon. Otherwise, investors will lose 1% for each 1% decline of the worst performing asset.

Barclays is the agent.

The notes (Cusip: 06747MZQ2) will price on June 19 and settle on June 24.

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