By Jennifer Chiou
New York, Nov. 25 – Barclays Bank plc priced $2.7 million of phoenix autocallable notes due Dec. 9, 2015 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 11.06% per year if Halliburton shares close at or above the coupon barrier price, 75% of the initial share price, on the observation date for that quarter.
If the stock closes at or above the initial price on any observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and the shares finish at or above the 75% trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to any losses.
Barclays is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
| Issuer: | Barclays Bank plc
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | Halliburton Co. (Symbol: HAL)
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| Amount: | $2.7 million
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| Maturity: | Dec. 9, 2015
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| Coupon: | 11.06% per year, payable quarterly if Halliburton shares close at or above barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If shares finish at or above trigger price, par plus contingent coupon; otherwise, full exposure to any losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any observation date beginning on March 5
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| Initial price: | $50.63
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| Barrier/trigger price: | $37.97, 75% of initial price
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| Pricing date: | Nov. 21
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| Settlement date: | Nov. 26
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| Underwriter: | Barclays with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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| Fees: | 1%
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| Cusip: | 06741UMB7
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