By Angela McDaniels
Tacoma, Wash., June 9 – Barclays Bank plc priced $1.41 million of airbag phoenix autocallable optimization securities due Dec. 9, 2016 linked to the common stock of Amgen Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8.8% per year if Amgen shares close at or above the coupon barrier, 80% of the initial share price, on the observation date for that month.
The notes will be automatically called at par if Amgen shares close at or above the initial share price on any autocall observation date, which occur quarterly.
If the notes are not called and the final price of Amgen shares is greater than or equal to the conversion price, 90% of the initial share price, the payout at maturity will be par. Otherwise, investors will receive a number of Amgen shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
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Issue: | Airbag phoenix autocallable optimization securities
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Underlying stock: | Amgen Inc. (Symbol: AMGN)
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Amount: | $1,411,000
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Maturity: | Dec. 9, 2016
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Coupon: | Each month, notes pay contingent coupon at rate of 8.8% per year if Amgen shares close at or above coupon barrier on observation date for that month
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Price: | Par
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Payout at maturity: | If final share price is greater than or equal to conversion price, par; otherwise, number of Amgen shares equal to $1,000 divided by conversion price
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Call: | Automatically at par if Amgen shares close at or above initial share price on any quarterly autocall observation date
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Initial share price: | $157.25
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Coupon barrier: | $125.80, 80% of initial share price
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Conversion price: | $141.53, 90% of initial share price
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Pricing date: | June 5
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Settlement date: | June 10
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Agents: | UBS Financial Services Inc. and Barclays
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Fees: | 1.5%
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Cusip: | 06743P186
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