By Angela McDaniels
Tacoma, Wash., Sept. 17 - Barclays Bank plc priced $25.4 million of yield optimization notes with contingent protection due March 19, 2010 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes pay 5.625% for an annualized coupon of 11.25%. Interest is payable monthly.
Each note has a face amount of $28.58, which is equal to the closing price of Wells Fargo stock on the pricing date.
If the final share price of Wells Fargo stock is less than 60% of the initial share price, the payout at maturity will be one Wells Fargo share per note. Otherwise, the payout will be par.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Wells Fargo & Co. (Symbol: WFC)
|
| Amount: | $25,402,247
|
| Maturity: | March 19, 2010
|
| Coupon: | 11.25%, payable monthly
|
| Price: | Par of $28.58
|
| Payout at maturity: | If Wells Fargo stock finishes below trigger price, one Wells Fargo share per note; otherwise, par
|
| Initial share price: | $28.58
|
| Trigger price: | $17.15, 60% of initial price
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 18
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1%
|
© 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.
