Barclays plans trigger phoenix autocallables on Euro Stoxx, Russell

By Toni Weeks

San Luis Obispo, Calif., Aug. 3 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Aug. 20, 2018 linked to the worst performing of the Euro Stoxx 50 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon of 7.8% to 8.55% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on any quarterly observation date. The exact coupon will be set at pricing.

Beginning In February 2016, the notes will be called at par 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 its 70% barrier level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the decline of the worst-performing index from its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes (Cusip: 06743N264) will price Aug. 14 and settle Aug. 19.

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