Barclays plans trigger phoenix autocallables linked to Gilead Sciences

By Susanna Moon

Chicago, Nov. 20 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Nov. 29, 2019 linked to Gilead Sciences, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 9% if the stock closes at or above the coupon barrier, 63% to 68% of the initial share price, on any observation date for that month.

The notes will be called at par if Gilead shares close at or above the initial share price on any monthly observation date after one year.

The payout at maturity will be par unless the stock finishes below the 63% to 68% trigger level, in which case investors will be fully exposed to any losses.

The exact terms will be set at pricing.

Barclays and UBS Financial Services Inc. are the agents.

The notes will price on Nov. 25 and settle on Nov. 28.

The Cusip number is 06742Y394.

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