Barclays plans contingent yield trigger autocallables linked to CVS

By Susanna Moon

Chicago, Oct. 11 – Barclays Bank plc plans to price trigger autocallable contingent yield notes due Oct. 16, 2020 linked to CVS Health Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 7% if the stock closes at or above its coupon barrier, which will be 71.5% to 76.5%, on the determination date for that quarter.

The notes will be called at par if the stock closes at or above its initial level on any quarterly determination date beginning April 13, 2018.

The payout at maturity will be par plus the final coupon unless the stock finishes below its 71.5% to 76.5% downside threshold, in which case investors will be fully exposed to any losses.

The exact deal terms including coupon barrier and downside threshold will be set at pricing.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price on Oct. 13 and settle on Oct. 18.

The Cusip number is 06746M271.

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