By Jennifer Chiou
New York, Oct. 30 - Barclays Bank plc priced $245,000 of 9.2% autocallable reverse convertible notes due Nov. 13, 2014 linked to Ford Motor Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if the share price is equal to or greater than the initial share price on a quarterly call date.
The payout at maturity will be par in cash unless the final price falls below the barrier level, 80% of the initial share price, in which case investors will be fully exposed to losses.
The final share price will be the average of the closing share prices on the five trading days ending Nov. 7, 2014.
Barclays is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable reverse convertible notes
|
| Underlying stock: | Ford Motor Co. (NYSE: F)
|
| Amount: | $245,000
|
| Maturity: | Nov. 13, 2014
|
| Coupon: | 9.2%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Ford shares fall below barrier level, in which case full exposure to losses
|
| Call: | At par if share price is equal to or greater than initial share price on a quarterly call date beginning on Feb. 6
|
| Initial price: | $17.60
|
| Barrier level: | $14.08, 80% of initial level
|
| Final price: | Average of closing share prices on five trading days ending Nov. 7, 2014
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Underwriter: | Barclays
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 06741TU70
|
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