Barclays plans trigger phoenix autocallable notes on Chesapeake Energy

By Jennifer Chiou

New York, Sept. 5 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Sept. 12, 2018 linked to Chesapeake Energy Corp. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 8% if Chesapeake Energy stock closes at or above the 62% to 66% trigger level on a monthly observation date. The exact trigger level will be set at pricing.

The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any monthly observation date.

The payout at maturity will be par plus the contingent coupon unless Chesapeake Energy shares finish below the trigger level, in which case investors will be fully exposed to any losses.

The notes (Cusip: 06742D176) are expected to price on Sept. 6 and settle on Sept. 11.

UBS Financial Services Inc. and Barclays are the underwriters.

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