By Toni Weeks
San Luis Obispo, Calif., May 29 – Barclays Bank plc priced $3.54 million of 7% airbag autocallable yield optimization notes due May 31, 2016 linked to the common stock of United Rentals, Inc., according to a 424B2 with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par if United Rentals 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 United Rentals shares equal to $1,000 divided by the conversion price. The conversion price will be 90% 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: | United Rentals, Inc. (Symbol: URI)
|
| Amount: | $3,535,000
|
| Maturity: | May 31, 2016
|
| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than conversion price, in which case 10.6326 United Rentals shares per $1,000 principal amount
|
| Call: | Automatically at par if United Rentals shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $104.50
|
| Conversion price: | $94.05, 90% of initial share price
|
| Pricing date: | May 27
|
| Settlement date: | May 29
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06743N629
|
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