Barclays plans phoenix autocallables tied to Russell 2000

By Marisa Wong

Morgantown, W.Va., Oct. 13 – Barclays Bank plc plans to price phoenix autocallable notes due Oct. 19, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if the index closes at or above its barrier level, 75% to 77% of its initial level, on the observation date for that quarter.

After six months, the notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly observation date other than the final date.

The payout at maturity will be par plus the contingent coupon unless the index finishes below its barrier level, in which case investors will be fully exposed to any losses.

Barclays is the agent.

The notes will price on Oct. 14.

The Cusip number is 06741VD41.

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