Barclays plans step down trigger autocallables on Russell, Euro Stoxx

By Devika Patel

Knoxville, Tenn., July 9 – Barclays Bank plc plans to price 0% step down trigger autocallable notes due July 18, 2023 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $10 plus a call premium – expected to be 8.1% to 8.55% per year – if each index closes at or above its initial level on any annual observation date beginning on July 19, 2019. The exact call premium will be set at pricing.

If the notes are not subject to an automatic call, and the final level of the worst performing index is higher than or equal to its downside threshold, 60% of its initial level, investors will receive par plus a premium that is expected to be between 40.5% and 42.75% and will be set at pricing. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes (Cusip: 06746T516) will price July 13 and settle July 18.

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