Barclays plans trigger autocallable contingent yield notes on indexes

By Wendy Van Sickle

Columbus, Ohio, June 13 – Barclays Bank plc plans to price trigger autocallable contingent yield notes due June 28, 2019 linked to the lesser performing of the S&P MidCap 400 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 barrier – 70% of its initial level – on a quarterly observation date, the issuer will pay a contingent coupon for that period at an annual rate of 7% to 8%, which will be set at pricing. Otherwise, no coupon will be paid for that period.

If each index closes at or above the initial level on any observation date beginning Dec. 28, 2016, 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 barrier, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to lesser performing index’s decline from its initial level.

UBS Financial Services Inc. and Barclays Capital Inc. are the agents.

The notes will price on June 28 and settle on June 30.

The Cusip number is 06740Q393.

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