Barclays to price trigger phoenix autocallables linked to Fortinet

By Marisa Wong

Madison, Wis., Oct. 9 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due April 15, 2016 linked to the common stock of Fortinet, Inc., according to an FWP filing with the Securities and Exchange Commission.

If Fortinet stock closes at or above the barrier price – 72% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 9% to 11%. Otherwise, no coupon will be paid that quarter.

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

If the notes are not called and Fortinet shares finish at or above the 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.

Barclays and UBS Financial Services Inc. are the agents.

The notes will price on Oct. 10 and settle on Oct. 16.

The Cusip number is 06742Y675.

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