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Barclays plans phoenix autocallables linked to Russell 2000, S&P 500
By Susanna Moon
Chicago, June 14 – Barclays Bank plc plans to price phoenix autocallable notes due June 28, 2024 linked to the lesser performing of the S&P 500 index and 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 6% if each index closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date after one year other than the final date.
The payout at maturity will be par unless either index finishes below its 65% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
Barclays is the agent.
The notes will price on June 27 and settle on June 30.
The Cusip number is 06741VXU1.
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