Barclays plans trigger autocallables tied to Nasdaq-100, Russell 2000

By Marisa Wong

Morgantown, W.Va., May 23 – Barclays Bank plc plans to price trigger autocallable contingent yield notes due May 29, 2026 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If each the 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 at an annual rate of 7% to 8%. Otherwise, no coupon will be paid for that quarter.

If each index closes at or above the initial level on any observation date after one year, the notes will be called at par plus the contingent coupon.

If the notes are not called and each index finishes at or above the 50% downside threshold level, the payout at maturity will be par plus the contingent coupon, if any.

Otherwise, investors will be exposed to lesser performing index’s decline from its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price on May 26 and settle on May 31.

The Cusip number is 06740Q468.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.