Barclays to price trigger phoenix callable notes tied to three indexes

By Toni Weeks

San Luis Obispo, Calif., Dec. 12 – Barclays Bank plc plans to price trigger phoenix callable optimization securities due Dec. 18, 2024 linked to the worst performing of the S&P 500 index, the Euro Stoxx 50 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 8.35% if each index closes at or above its coupon barrier level, 50% of its initial level, on an observation date for that quarter.

The notes are callable at par plus the contingent coupon, if any, on any quarterly observation date.

The payout at maturity will be par plus the contingent coupon unless any index finishes below its 50% trigger level, in which case investors will fully exposed to the decline of the worst-performing index.

Barclays and UBS Financial Services Inc. are the agents.

The notes (Cusip: 06742Y212) are expected to settle Dec. 17.

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