Barclays plans trigger autocallable contingent yield notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Sept. 24 – Barclays Bank plc plans to price trigger autocallable contingent yield notes due Sept. 29, 2022 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.4% to 9.4% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.

The notes will be called at par plus the coupon if each underlier closes at or above its initial level on any quarterly observation date after six months.

The payout at maturity will be par plus the coupon, if any, unless either underlier finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price on Sept. 26.

The Cusip number is 06747D403.

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