Barclays to price phoenix autocallables linked to three funds

By Marisa Wong

Morgantown, W.Va., May 24 – Barclays Bank plc plans to price phoenix autocallable notes due May 29, 2020 linked to the least performing of the common fund of the SPDR S&P Regional Banking exchange-traded fund, the Energy Select Sector SPDR fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 10.75% if each fund closes at or above its 75% coupon barrier on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any observation date prior to maturity.

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

Barclays is the agent.

The notes will price on May 25.

The Cusip number is 06746XCX9.

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