By Susanna Moon
Chicago, May 1 – Barclays Bank plc priced $14.29 million of trigger phoenix autocallable optimization securities due Oct. 31, 2016 linked to Rite Aid Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.15% if the stock closes at or above its barrier level, 85% of its initial level, on an observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
If the stock finishes at or above its 85% trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to any losses.
UBS Financial Services Inc. and Barclays are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Rite Aid Corp. (Symbol: RAD)
|
| Amount: | $14,293,600
|
| Maturity: | Oct. 31, 2016
|
| Coupon: | 11.15% annualized for each quarter that stock closes at or above coupon barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger level, par; otherwise, full exposure to losses
|
| Call: | At par if stock closes at or above its initial level on any quarterly observation date
|
| Initial level: | $8.13
|
| Barrier level: | $5.28, 65% of initial level
|
| Pricing date: | April 28
|
| Settlement date: | April 30
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06743P426
|
|
|
|
|
© 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.
