By Wendy Van Sickle
Columbus, Ohio, March 8 – Barclays Bank plc priced $539,390 of trigger phoenix autocallable optimization securities due March 10, 2021 linked to the common stock of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if the stock closes at or above the coupon barrier level, 78% of the initial price, on the observation date for that month.
If the shares close at or above the initial price on any monthly observation date beginning March 6, 2017, the notes will be called at par of $10 plus the contingent coupon.
The payout at maturity will be par plus the contingent coupon unless the shares finish below the 78% trigger level, in which case investors will be fully exposed to any losses.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | FedEx Corp. (Symbol: FDX)
|
| Amount: | $539,390
|
| Maturity: | March 10, 2021
|
| Coupon: | 8% per year, payable monthly if stock closes at or above coupon barrier price on observation date for that month
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the contingent coupon unless shares finish below the trigger price, in which case full exposure to losses
|
| Call: | At par plus the contingent coupon if the shares close at or above the initial price on any monthly observation date beginning March 6, 2017
|
| Initial price: | $143.91
|
| Barrier levels: | $112.25, 78% of initial price
|
| Pricing date: | March 4
|
| Settlement date: | March 9
|
| Agents: | Barclays and UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06744K780
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
