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

By Marisa Wong

Madison, Wis., April 17 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due April 30, 2025 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If each index closes at or above its coupon barrier level, 70% of its initial share level, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 6.75% to 7.25% per year. Otherwise, no coupon will be paid that quarter. The exact contingent coupon rate will be set at pricing.

Beginning a year after issuance, the notes will be called at par of $10 plus the contingent coupon if the indexes close at or above their initial levels on a quarterly observation date.

If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the decline of the lesser performing index from its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price on April 28 and settle on April 30.

The Cusip number is 06743P491.

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