Barclays plans trigger callable contingent yield notes tied to indexes

By Wendy Van Sickle

Columbus, Ohio, Jan. 13 – Barclays Bank plc plans to price trigger callable contingent yield notes with daily coupon observation due July 22, 2019 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 10.15% if each index’s closing level remains at or above its coupon barrier, 65% of its strike level on Jan. 13, on each day during that quarter.

The notes will be callable at par of $10 on each quarterly observation date other than the final one.

If the notes are not called and each index finishes at or above its 60% downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes are expected to price Jan. 17.

The Cusip number is 06745R172.

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