By Susanna Moon
Chicago, June 25 – Barclays Bank plc priced $2.52 million of phoenix autocallable notes due July 8, 2015 linked to USG Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.95% if USG stock closes at or above the barrier level, 75% of the initial price, on an observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any observation date.
If the notes are not called and USG shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to any losses.
Barclays is the agent with JPMorgan as placement agent.
| Issuer: | Barclay Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | USG Corp. (Symbol: USG)
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| Amount: | $2.52 million
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| Maturity: | July 8, 2015
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| Coupon: | 14.95% annualized per quarter if USG stock closes at or above barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If USG shares finish at or above barrier price, par plus contingent coupon; otherwise, investors will be exposed to any losses
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| Call: | At par plus contingent coupon if shares close at or above the initial price on any observation date
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| Initial price: | $30.14
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| Barrier price: | $22.61, 75% of initial price
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| Pricing date: | June 20
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| Settlement date: | June 25
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| Agent: | Barclays with JPMorgan as placement agent
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| Fees: | 1%
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| Cusip: | 06741UFB5
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