By Susanna Moon
Chicago, June 17 – Barclays Bank plc priced $2.15 million of phoenix autocallable notes due June 14, 2018 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.75% if Facebook shares close at or above the coupon barrier price, 75% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless Facebook shares finish below the 75% barrier level, in which case investors will receive a cash payment equal to par plus the stock return or, at the issuer’s option, a number of Facebook shares equal to $1,000 divided by the initial price.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying stock: | Facebook, Inc. (Ticker: FB)
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Amount: | $2.15 million
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Maturity: | June 14, 2018
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Coupon: | 9.75%, payable quarterly if stock closes at or above coupon barrier price on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if Facebook shares finish at or above barrier level; otherwise, par plus stock return
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Call: | At par plus contingent coupon if Facebook shares close at or above initial price on any quarterly observation date other than the final date
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Initial share price: | $116.62
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Barrier levels: | $87.47, 75% of initial price
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Pricing date: | June 10
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Settlement date: | June 15
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06741V5A6
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