Barclays plans trigger autocallable contingent yield notes on indexes

By Sarah Lizee

Olympia, Wash., Nov. 26 – Barclays Bank plc plans to price trigger autocallable contingent yield notes due Nov. 30, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of between 10.15% and 11.15% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date, beginning on May 28, 2019.

The payout at maturity will be par plus the final coupon unless either index finishes below the downside threshold level, 70% of the initial level, in which case investors will lose 1% for every 1% decline of the worse performing index from its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes (Cusip: 06746V453) will price on Nov. 28.

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