Barclays to price trigger phoenix autocallables linked to Celgene

By Toni Weeks

San Luis Obispo, Calif., March 12 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due March 20, 2019 linked to the common stock of Celgene Corp., according to an FWP filing with the Securities and Exchange Commission.

If Celgene stock closes at or above the coupon barrier - 60% to 65% of the initial share price - on a monthly observation date, the issuer will pay a contingent coupon for that month at an annualized rate of 8%. Otherwise, no coupon will be paid that month. The exact coupon barrier will be set at pricing.

If the shares close at or above the initial price on a monthly observation date after one year, the notes will be called at par plus the contingent coupon.

If the notes are not called and Celgene shares finish at or above the 67% to 72% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

The notes (Cusip: 06742B279) are expected to price March 14 and settle March 19.

UBS Financial Services Inc. and Barclays are the underwriters.

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