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Barclays plans trigger performance notes linked to Vanguard FTSE EM
By Toni Weeks
San Luis Obispo, Calif., May 5 – Barclays Bank plc plans to price 0% trigger performance securities due May 29, 2020 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par of $10 plus 140% to 150% of the ETF return. The exact participation rate will be set at pricing.
If the ETF return is zero or negative and the ETF’s final share price is greater than or equal to the trigger price, 75% of the initial share price, the payout will be par.
If the final share price is less than the trigger price, investors will be fully exposed to the decline in the ETF from its initial share price.
UBS Financial Services Inc. and Barclays are the agents.
The notes are expected to price May 26 and settle May 29.
The Cusip number is 06743P350.
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