Barclays to price trigger phoenix autocallables linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., Jan. 5 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Jan. 18, 2019 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If the index closes at or above the trigger level, 70% of the initial level, on a semiannual observation date, the issuer will pay a contingent coupon for that six-month period at the rate of 8% to 8.5% per year. Otherwise, no coupon will be paid for that semiannual period. The exact contingent coupon rate will be set at pricing.

If the index closes at or above the initial level on a semiannual observation date, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and the index finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the index’s decline from the initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price Jan. 15.

The Cusip number is 06743T329.

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