Barclays plans trigger phoenix autocallables on Nasdaq 100, S&P 500

By Wendy Van Sickle

Columbus, Ohio, Feb. 17 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Feb. 28, 2019 linked to the Nasdaq-100 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 8.65% to 10.15% if each index closes at or above the coupon barrier level – 70% of the initial level – on the observation date for that quarter.

Beginning on Aug. 22, 2016, the notes will be called at par plus the contingent coupon if both indexes close at or above their initial levels on any quarterly observation date.

The payout at maturity will be par plus the final contingent coupon unless either index closes below the 70% trigger level, in which case investors will be fully exposed to any losses.

UBS Financial Services Inc. and Barclays Capital Inc. are the agents.

The notes will price on Feb. 25 and settle on Feb. 29.

The Cusip number is 06744K707.

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