By Angela McDaniels
Tacoma, Wash., July 19 - Barclays Bank plc priced $4 million of 13.25% trigger autocallable yield optimization notes due July 23, 2014 linked to the common stock of Western Refining, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is $28.16, which is equal to the initial share price of Western Refining stock.
Interest is payable monthly.
The notes will be called automatically at par plus accrued interest if Western Refining's closing share price on any quarterly observation date is greater than or equal to its initial price.
The payout at maturity will be par unless the final price of Western Refining stock is less than 65% of the initial share price, in which case investors will receive one Western Refining share per note.
UBS Financial Services Inc. and Barclays are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable yield optimization notes
|
| Underlying stock: | Western Refining, Inc. (NYSE: WNR)
|
| Amount: | $3,999,987.20
|
| Maturity: | July 23, 2014
|
| Coupon: | 13.25%, payable monthly
|
| Price: | Par of $28.16
|
| Payout at maturity: | If final share price is less than trigger price, one Western Refining share; otherwise, par
|
| Call: | Automatically at par plus accrued interest if Western Refining's closing share price on any quarterly observation date is greater than or equal to initial share price
|
| Initial share price: | $28.16
|
| Trigger price: | $18.30, 65% of initial price
|
| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 0.75%
|
| Cusip: | 06742D572
|
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