By Susanna Moon
Chicago, Nov. 18 – Barclays Bank plc priced $189,000 of trigger phoenix autocallable optimization securities due Nov. 19, 2018 linked to Cigna Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if Cigna stock closes at or above the coupon barrier level, 75.5% of the initial price, on the observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date beginning May 13, 2016.
The payout at maturity will be par plus the contingent coupon unless Cigna shares finish below the 75.5% trigger level, in which case investors will be fully exposed to any losses.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Cigna Corp. (Symbol: CI)
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| Amount: | $189,000
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| Maturity: | Nov. 19, 2018
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| Coupon: | 8% per year, payable quarterly if Cigna stock closes at or above coupon barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the contingent coupon unless Cigna shares finish below the trigger price, in which case full exposure to losses
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| Call: | At par plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date beginning May 13, 2016
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| Initial level: | $131.57
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| Trigger level: | 75.5% of initial level
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 18
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| Agents: | Barclays and UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 06743T873
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