Barclays plans 10% autocallable reverse convertibles on First Solar

By Angela McDaniels

Tacoma, Wash., March 5 - Barclays Bank plc plans to price 10% single observation autocallable reverse convertible notes due March 26, 2015 linked to the common stock of First Solar, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if First Solar shares close at or above the initial share price on June 20, 2014, Sept. 22, 2014 or Dec. 29, 2014.

If the notes are not called, the payout at maturity will be par unless the final share price is less than the protection level, 62.5% of the initial share price, in which case the payout will be a number of First Solar shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash value of those shares.

Barclays is the agent.

The notes will price March 24 and settle March 27.

The Cusip number is 06741J6T1.

© 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.