Barclays plans trigger autocallables tied to Nasdaq-100, Russell 2000

By Angela McDaniels

Tacoma, Wash., July 18 – Barclays Bank plc plans to price trigger autocallable contingent yield notes due Aug. 2, 2029 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 6% to 7% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. The exact contingent coupon rate will be set at pricing.

Beginning July 29, 2020, the notes will be automatically called at par of $10 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 downside threshold, 50% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price July 29.

The Cusip number is 06747C785.

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