Barclays plans trigger phoenix autocallable notes linked to Hess

By Susanna Moon

Chicago, Oct. 17 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Oct. 24, 2018 linked to Hess Corp. 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 8% if Hess stock closes at or above the 73% to 78% 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 Hess 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 Oct. 18 and settle on Oct. 23.

The Cusip number is 06742E752.

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