By Toni Weeks
San Luis Obispo, Calif., Nov. 27 - Barclays Bank plc priced $3 million of 10.5% single observation autocallable reverse convertible notes due Nov. 28, 2014 linked to the common stock of Facebook Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if Facebook shares close at or above the initial share price on Feb. 24, May 21 or Aug. 22, 2014.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the 70% protection price, in which case the payout will be a number of Facebook shares equal to $1,000 divided by the initial share price or the cash value of those shares.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Single observation autocallable reverse convertible notes
|
| Underlying stock: | Facebook Inc. (Symbol: FB)
|
| Amount: | $3 million
|
| Maturity: | Nov. 28, 2014
|
| Coupon: | 10.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Facebook stock finishes below protection price, in which case 22.311468 Facebook shares or cash value of those shares
|
| Call: | At par if closing share price is at or above initial share price on Feb. 24, May 21 or Aug. 22, 2014
|
| Initial share price: | $44.82
|
| Protection price: | $31.37, 70% of initial share price
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| Pricing date: | Nov. 25
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| Settlement date: | Nov. 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.8%
|
| Cusip: | 06741J5L9
|
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