Barclays plans trigger phoenix autocallables on Euro Stoxx 50, S&P 500

By Tali Rackner

Norfolk, Va., March 3 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due March 17, 2026 linked to the Euro Stoxx 50 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 7.5% to 8.5% if each index closes at or above the coupon barrier level – 70% of the initial level – on the observation date for that quarter.

Beginning on March 13, 2017, the notes will be called at par plus the contingent coupon if both indexes close at or above their initial levels on any quarterly observation date.

The payout at maturity will be par plus the final contingent coupon unless either index closes below the 50% trigger level, in which case investors will be fully exposed to any losses of the lesser performing index.

UBS Financial Services Inc. and Barclays Capital Inc. are the agents.

The notes will price on March 11 and settle on March 16.

The Cusip number is 06744K822.

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