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Barclays to price 6.55%-8.55% airbag autocallables tied to Halliburton
By Angela McDaniels
Tacoma, Wash., Sept. 24 – Barclays Bank plc plans to price 6.55% to 8.55% airbag autocallable yield optimization notes due Sept. 30, 2016 linked to the common stock of Halliburton Co., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The exact interest rate will be set at pricing.
The notes will be called automatically at par if Halliburton shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Halliburton shares equal to $1,000 divided by the conversion price. The conversion price will be 78% of the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
The notes are expected to price Sept. 28 and settle Sept. 30.
The Cusip number is 06743Q432.
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