UBS plans phoenix autocallables with memory coupon linked to stocks

By Tali Rackner

Norfolk, Va., Oct. 26 – Barclays Bank plc plans to price phoenix autocallable notes with memory coupon due Oct. 31, 2017 linked to the least performing of three common stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The stocks include Genworth Financial, Inc., Citigroup Inc. and JPMorgan Chase & Co.

If each index closes at or above the barrier level – 50% of the initial level – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at an annualized rate of 13.25%.

If each index closes at or above the initial level on a quarterly observation date other than the final date, the notes will be called at par of $1,000 plus the contingent coupon and any unpaid coupon amounts.

If the notes are not called and the least-performing index finishes at or above the 50% barrier price, the payout at maturity will be par plus the contingent coupon and any previously unpaid coupons. Otherwise, investors will be exposed to the least-performing index’s decline from the initial level.

Barclays is the agent.

The notes will price on Oct. 27 and settle on Oct. 30.

The Cusip number is 06741UQ80.

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