Barclays plans trigger autocallable contingent yield notes linked to SPDR S&P 500 ETF

By Wendy Van Sickle

Columbus, Ohio, May 18 – Barclays Bank plc plans to price trigger autocallable contingent yield notes due May 25, 2018 linked to the SPDR S&P 500 exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund closes at or above its barrier – 79% to 80% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 7%. Otherwise, no coupon will be paid that quarter.

If the fund closes at or above the initial price on any quarterly observation, the notes will be called at par plus the contingent coupon.

If the notes are not called and the fund finishes at or above the barrier, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

UBS Financial Services Inc. and Barclays are the agents.

The notes will price on May 20 and settle on May 25.

The Cusip number is 06744K376.

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