Barclays plans trigger phoenix autocallables on Euro Stoxx, Russell

By Angela McDaniels

Tacoma, Wash., March 3 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due March 19, 2025 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If each index closes at or above its coupon barrier, 70% of its initial level, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter. Otherwise, no coupon will be paid that quarter. The contingent coupon rate is expected to be 7.5% to 8.05% per year and will be set at pricing.

Beginning one year after issuance, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par and, if applicable, the final coupon. Otherwise, investors will be exposed to the decline of the worst-performing index from its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes are expected to price March 13 and settle March 18.

The Cusip number is 06743P749.

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