Barclays plans phoenix autocallable notes linked to S&P 500, Dow

By Marisa Wong

Morgantown, W.Va., March 8 – Barclays Bank plc plans to price phoenix autocallable notes due March 13, 2025 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 5.5% if each index closes at or above the coupon barrier – 75% of the initial level – on the observation date for that month.

The notes will be called at par plus the contingent coupon if each index closes at or above the initial price on any quarterly observation date after one year.

The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below its 60% barrier 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 March 10.

The Cusip number is 06741VN81.

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