By Toni Weeks
San Luis Obispo, Calif., March 11 - Barclays Bank plc priced $17.84 million of contingent income autocallable securities due March 12, 2015 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Facebook stock closes at or above the downside threshold level, 65% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment of 3.1% for that quarter.
If the shares close at or above the initial level on any quarterly determination date other than the final date, the notes will be redeemed at par of $10 plus the contingent payment.
If the notes are not called and the stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.
Otherwise, the payout will be a number of Facebook shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.
Barclays is the agent with distribution through Morgan Stanley Wealth Management
Issuer: | Barclays Bank plc
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Issue: | Contingent income autocallable securities
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Underlying stock: | Facebook, Inc. (Symbol: FB)
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Amount: | $17,836,020
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Maturity: | March 12, 2015
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Contingent coupon: | 3.1% % per quarter, payable if Facebook stock closes at or above downside threshold level on determination date for that quarter
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Price: | Par of $10
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Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus contingent payment; otherwise, a number of Facebook shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent
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Call: | At par plus contingent payment if shares close at or above initial level on any quarterly determination date other than final date
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Initial share price: | $69.80
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Downside threshold: | $45.37, 65% of initial share price
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Pricing date: | March 7
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Settlement date: | March 12
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Agent: | Barclays with distribution through Morgan Stanley Wealth Management
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Fees: | 1.5%
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Cusip: | 06742B428
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