Barclays plans trigger phoenix autocallable notes linked to Facebook

By Susanna Moon

Chicago, Aug. 22 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Aug. 31, 2018 linked to Facebook Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 9.15% if Facebook stock closes at or above the 65% to 70% 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 Facebook shares finish below the trigger level, in which case investors will be fully exposed to any losses.

UBS Financial Services Inc. and Barclays are the underwriters.

The notes will price on Aug. 23 and settle on Aug. 30.

The Cusip number is 06742D267.

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