Barclays plans trigger autocallable contingent yield notes on indexes

By Marisa Wong

Morgantown, W.Va., Oct. 11 – Barclays Bank plc plans to price trigger autocallable contingent yield notes due Oct. 18, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 7% to 8% per year and will be set at pricing.

After six months, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless either index finishes below its 70% downside threshold level, in which case investors will be fully exposed to the decline of the lesser-performing index.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price Oct. 14.

The Cusip number is 06745B151.

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