Barclays plans one-year phoenix autocallable notes linked to Facebook

By Susanna Moon

Chicago, Nov. 13 - Barclays Bank plc plans to price phoenix autocallable notes due Dec. 3, 2014 linked to Facebook, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon at an annual rate of 13.5% if Facebook stock closes at or above the 65% barrier level 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 a quarterly observation date.

If the notes are not called and Facebook shares finish at or above the 65% barrier level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

Barclays is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

The notes will price Nov. 15 and settle Nov. 20.

The Cusip number is 06741TY68.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.