Barclays plans five-year trigger gears on Chinese index, stock basket

By Susanna Moon

Chicago, Nov. 21 – Barclays Bank plc plans to price 0% trigger gears due Nov. 30, 2023 linked to an unequally weighted basket of one index and six stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the Hang Seng index with a weight of 70%, as well as six American depositary shares, each carrying a 5% weight. The underlying companies are Alibaba Group Holding Ltd., Baidu, Inc., Ctrip.com International Ltd., JD.com, Inc., NetEase, Inc. and Weibo Corp.

The payout at maturity will be par plus 1.3 to 1.35 times any basket gain, with the exact participation rate to be set at pricing.

If the basket falls by up to 30%, the payout will be par.

If the basket finishes below the 70% downside threshold, investors will lose 1% for every 1% decline.

UBS Financial Services Inc. and Barclays are the agents.

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

The Cusip number is 06746V651.

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