Published on 2/10/2015 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.2 million callable contingent coupon notes linked to Facebook
By Susanna Moon
Chicago, Feb. 10 – Barclays Bank plc priced $1.2 million of callable contingent coupon notes due Feb. 9, 2017 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.75% if Facebook shares close above the 70% barrier level on the valuation date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless Facebook shares finish below the 70% barrier level, in which case investors will be fully exposed to any losses.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable contingent coupon notes
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Underlying stock: | Facebook, Inc. (Symbol: FB)
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Amount: | $1,195,000
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Maturity: | Feb. 9, 2017
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Coupon: | 9.75% per year, payable quarterly if closing price of Facebook shares is greater than or equal to barrier price on valuation date for that quarter
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Price: | Par
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Payout at maturity: | Par in cash unless Facebook shares finish below barrier price, in which case par plus stock return or, at issuer’s option, 13.42823 Facebook shares
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Call option: | At par plus contingent coupon on any interest payment date
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Initial share price: | $74.47
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Barrier price: | $52.13, 70% of initial share price
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Pricing date: | Feb. 6
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Settlement date: | Feb. 11
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06741JZ44
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