Barclays to price 8.75% autocallables linked to four energy stocks

By Angela McDaniels

Tacoma, Wash., Sept. 5 – Barclays Bank plc plans to price 8.75% autocallable notes due March 30, 2016 linked to the least performing of the common stocks of Exxon Mobil Corp., Chevron Corp., BP plc and Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be automatically called at par plus accrued interest if each stock closes at or above its initial share price on any quarterly call valuation date.

If the notes are not called and the final price of the least-performing stock is greater than or equal to its barrier price, 70% of its initial share price, the payout at maturity will be par. Otherwise, the payout will be par minus 1% for each 1% that the final share price of the least-performing stock is less than its initial share price or, at the issuer’s option, a number of shares of the least-performing stock equal to $1,000 divided by that stock’s initial share price.

Barclays is the agent.

The notes will price Sept. 24 and settle Sept. 29.

The Cusip number is 06741UJM7.

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