Barclays plans trigger phoenix autocallables on Stoxx 50, S&P 500

New York, Dec. 30 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Dec. 17, 2025 linked to the Euro Stoxx 50 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 the rate of 7.5% to 8.15% per year if each index closes at or above its 70% coupon barrier level on the observation date for that quarter. The exact contingent coupon rate and the barrier level will be set at pricing.

Beginning Dec. 12, 2016, the notes will be called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called and each index finishes at or above the barrier level, the payout at maturity will be par plus the final contingent coupon.

If each index finishes below the barrier level but above the 50% trigger level the payout will be par. The exact level of the trigger will be set at pricing.

If the final level of either index is less than the trigger level, investors will be fully exposed to the decline of the lesser-performing index.

UBS Financial Services Inc. and Barclays are the agents.

The notes (Cusip: 06743T634) will price on Dec. 11 and settle on Dec. 16.

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