By Wendy Van Sickle
Columbus, Ohio, March 8 – Barclays Bank plc priced $1.89 million of autocallable contingent interest notes due March 21, 2018 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the trigger price, 79.75% of the initial share price, on a quarterly review date, the notes will pay a contingent coupon for that quarter at the rate of 10% per year. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on any quarterly review date other than the final date, the notes will be called at par plus the contingent coupon.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the trigger price, in which case investors will be exposed to the share price decline from the initial price.
Barclays is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Facebook, Inc. (Nasdaq: FB)
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| Amount: | $1.89 million
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| Maturity: | March 21, 2018
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| Coupon: | 10% per year, payable each quarter that stock closes at or above trigger price on review date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless the stock finishes below the trigger price, in which case investors will be exposed to the share price decline from the initial price
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| Call: | Automatically at par plus contingent coupon if shares close at or above initial price on any quarterly review date other than final date
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| Initial share price: | $137.17
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| Trigger price: | $109.39, 79.75% of initial level
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| Pricing date: | March 3
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| Settlement date: | March 8
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| Underwriter: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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| Fees: | 1%
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| Cusip: | 06741VM58
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