Barclays plans trigger phoenix autocallables linked to Anadarko

By Susanna Moon

Chicago, Aug. 12 – Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due Feb. 21, 2017 linked to Anadarko Petroleum Corp. shares, according to an FWP with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 8% to 10% if Anadarko stock closes at or above the coupon barrier level – 70% of the initial price – on the observation date for that quarter.

If the shares close at or above the initial price on any observation date, the notes will be called at par plus the contingent coupon.

If the notes are not called and Anadarko shares finish at or above the 70% trigger level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

Barclays and UBS Financial Services Inc. are the agents.

The notes will price on Aug. 14 and settle on Aug. 19.

The Cusip number is 06743Q739.

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