Barclays plans autocallable fixed-coupon notes tied to three indexes

By Sarah Lizee

Olympia, Wash., Jan. 10 – Barclays Bank plc plans to price autocallable fixed-coupon notes due Oct. 28, 2020 linked to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is expected to be 7.15% per year and will be set at pricing. Interest will be payable monthly.

After three months, the notes will be automatically called at par if each index closes at or above its initial level on any coupon payment date.

If the notes are not called, the payout at maturity will be par unless either index closes below its barrier level, 70% of its initial level, during the life of the notes and the lesser-performing index finishes below its initial level, in which case the payout will be par minus 1% for every 1% that the lesser-performing index declines from its initial level.

Barclay is the agent.

The notes will price Jan. 24.

The Cusip number is 06747NZW7.

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