By Toni Weeks
San Luis Obispo, Calif., Feb. 10 – Barclays Bank plc priced $2.22 million of 7.1% airbag autocallable yield optimization notes due Feb. 11, 2016 linked to the common stock of Apache Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par plus the coupon if the stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called, 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 Apache shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
|
Issue: | Airbag autocallable yield optimization notes
|
Underlying stock: | Apache Corp. (Symbol: APA)
|
Amount: | $2,217,000
|
Maturity: | Feb. 11, 2016
|
Coupon: | 7.1%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless final share price is less than conversion price, in which case 17.2176 Apache shares
|
Call: | Automatically at par plus accrued interest if Apache stock closes at or above initial share price on any quarterly observation date
|
Initial share price: | $68.33
|
Conversion price: | $58.08, 85% of initial share price
|
Pricing date: | Feb. 6
|
Settlement date: | Feb. 11
|
Agents: | UBS Financial Services Inc. and Barclays
|
Fees: | 1.5%
|
Cusip: | 06743P400
|
© 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.