Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Barclays Bank plc > News item |
Barclays plans trigger phoenix autocallables on Stoxx Europe, Russell
By Marisa Wong
Madison, Wis., July 6 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due July 16, 2020 linked to the lesser performing of the Stoxx Europe 50 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 7.5% to 8.1% if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and each index finishes at or above its 65% trigger level, the payout at maturity will be par plus the final contingent coupon.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and Barclays are the agents.
The notes will price on July 10 and settle on July 15.
The Cusip number is 06743Q507.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.