Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Barclays to price trigger phoenix autocallables linked to Wells Fargo
By Toni Weeks
San Diego, Dec. 4 - Barclays Bank plc plans to price 0% trigger phoenix autocallable optimization securities due Dec. 13, 2017 linked to the common stock of Wells Fargo & Co., according to an FWP filing with the Securities and Exchange Commission.
If Wells Fargo shares close at or above the trigger price - 70% of the initial share price - on any monthly observation date, the issuer will pay a contingent coupon of 6.25% to 8.25%. Otherwise, no coupon will be paid for that month. The exact coupon will be set at pricing.
If the stock closes at or above the initial price on any monthly observation date after one year, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Investors will be exposed to any losses.
The notes (Cusip: 06742A347) are expected to price Dec. 7 and settle Dec. 13.
Barclays and UBS Financial Services Inc. are the agents.
© 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.