Barclays to price trigger callable contingent yield notes on indexes

By Sarah Lizee

Olympia, Wash., Aug. 19 – Barclays Bank plc plans to price trigger callable contingent yield notes due Aug. 23, 2024 linked to the least performing of the MSCI EAFE index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at a rate of 9.5% per year if each index closes at or above its coupon barrier, 70% of its initial level, on each day during that quarter.

The notes will be callable at par of $10 on each quarterly observation date.

If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price on Aug. 20.

The Cusip number is 06747C439.

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