Barclays plans trigger phoenix autocallable notes linked to Facebook

By Wendy Van Sickle

Columbus, Ohio, March 23 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due March 31, 2021 linked the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 8% if Facebook stock closes at or above the trigger level, 61% to 67% of the initial level, on an observation date for that month.

The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year.

The payout at maturity will be par plus the contingent coupon unless Facebook shares finish below the trigger level, in which case investors will be fully exposed to any losses.

UBS Financial Services Inc. and Barclays are the underwriters.

The notes will price on March 29 and settle on March 31.

The Cusip number is 06744K640.

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