Barclays to price trigger phoenix autocallables tied to Foot Locker

By Jennifer Chiou

New York, July 24 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due July 31, 2018 linked to the common stock of Foot Locker, Inc., according to an FWP with the Securities and Exchange Commission.

If Intel stock closes at or above the coupon barrier - 69% to 75% of the initial share price - on a monthly observation date, the issuer will pay a contingent coupon for that month at an annualized rate of 8%. Otherwise, no coupon will be paid that month.

If the shares close at or above the initial price on a monthly observation date, the notes will be called at par plus the contingent coupon.

If the notes are not called and Intel shares finish at or above the 69% to 75% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

The notes (Cusip: 06742D465) are expected to price on July 29 and settle on July 31.

UBS Financial Services Inc. and Barclays are the underwriters.

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