Barclays to price trigger phoenix autocallables linked to energy fund

By Wendy Van Sickle

Columbus, Ohio, March 24 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due March 29, 2018 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 8% if the fund closes at or above the coupon barrier level – 71% to 77% of the initial price – on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the fund close at or above the initial price on any quarterly observation date.

The payout at maturity will be par plus the contingent coupon unless the fund finishes below the 71% to 77% trigger level, in which case investors will be fully exposed to any losses.

UBS Financial Services Inc. and Barclays Capital Inc. are the agents.

The notes will price on March 29 and settle on March 31.

The Cusip number is 06744K665.

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