Published on 5/14/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.41 million 9.96% airbag autocallables tied to Western Refining
By Marisa Wong
Madison, Wis., May 14 - Barclays Bank plc priced $3.41 million of 9.96% airbag autocallable yield optimization notes due May 16, 2014 linked to the common stock of Western Refining, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par if Western Refining shares close at or above the initial share price on Aug. 13, Nov. 13, Feb. 13, 2014 or May 12, 2014.
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 Western Refining shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | Western Refining, Inc. (Symbol: WNR)
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Amount: | $3,412,000
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Maturity: | May 16, 2014
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Coupon: | 9.96%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless final share price is less than conversion price, in which case 41.4250 Western Refining shares
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Call: | Automatically at par if Western Refining shares close at or above initial share price on Aug. 13, Nov. 13, Feb. 13, 2014 or May 12, 2014
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Initial price: | $30.18
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Conversion price: | $24.14, 80% of initial price
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Pricing date: | May 10
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Settlement date: | May 15
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 1.5%
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Cusip: | 06742C210
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