Barclays plans trigger autocallable contingent yield notes on Micron

By Marisa Wong

Morgantown, W.Va., Dec. 7 – Barclays Bank plc plans to price trigger autocallable contingent yield notes due Dec. 12, 2019 linked to the common stock of Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 14% to 14.5% per year if the shares close at or above the coupon barrier, 60% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation date.

If the notes are not called and the final share price is greater than or equal to the 60% downside threshold level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

Barclays and UBS Financial Services Inc. are the agents.

The notes will price on Dec. 8.

The Cusip number is 06746N261.

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