Barclays plans trigger phoenix autocallables on Euro Stoxx, S&P 500

By Marisa Wong

Morgantown, W.Va., Sept. 8 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Sept. 17, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of 8.5% to 9.25% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.

The notes will be called at par of $10 if each index closes at or above its initial level on any quarterly observation date beginning March 11, 2016.

If the notes are not called and each index finishes at or above its 70% trigger level, the payout at maturity will be par plus the final contingent coupon.

Otherwise, investors will be fully exposed to any losses of the worst performing index.

UBS Financial Services Inc. and Barclays are the agents.

The notes are expected to price Sept. 11 and settle Sept. 16.

The Cusip number is 06743N124.

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