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Barclays plans to price trigger phoenix autocallables linked to Ford
By Toni Weeks
San Luis Obispo, Calif., July 15 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due July 23, 2020 linked to Ford Motor Co. shares, according to an FWP with the Securities and Exchange Commission.
If Ford stock closes at or above the coupon barrier level – 70% to 75% of the initial price – on any monthly observation date, the notes will pay a contingent coupon at an annualized rate of 8% for that month.
If the shares close at or above the initial price on any monthly observation date after one year, the notes will be called at par plus the contingent coupon.
If the notes are not called and Ford shares finish at or above the 70% to 75% trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
The notes (Cusip: 06743N314) will price July 17 and settle July 22.
Barclays and UBS Financial Services Inc. are the agents.
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