Barclays plans to sell 10% autocallable notes tied to four airline stocks

By Devika Patel

Knoxville, Tenn., Jan. 9 – Barclays Bank plc plans to price autocallable notes due Jan. 16, 2020 linked to the least performing of the commons stocks of Southwest Airlines Co., Delta Air Lines, Inc., Jetblue Airways Corp. and United Continental Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at an annualized rate of 10%.

Beginning April 12, the notes will be called at par if each stock closes above its initial level on any quarterly call valuation date.

The payout at maturity will be par unless any stock finishes below its barrier level, 61% of its initial level, in which case investors will lose 1% for each 1% decline of the least performing stock from its initial level or, at the issuer’s option, a number of shares equal to the principal divided by the initial share price or the cash equivalent.

Barclays is the agent.

The notes (Cusip: 06741WDP2) will price Jan. 12 and settle on Jan. 18.

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