By Angela McDaniels
Tacoma, Wash., June 24 - Barclays Bank plc priced $3.58 million of trigger phoenix autocallable optimization securities due June 29, 2018 linked to the common stock of CSX Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If CSX stock closes at or above the trigger price on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 8% per year. Otherwise, no coupon will be paid that month. The trigger price is 68% of the initial share price.
Beginning July 1, 2014, if the shares close at or above the initial price on a monthly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and CSX shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and Barclays are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | CSX Corp. (NYSE: CSX)
|
| Amount: | $3,576,120
|
| Maturity: | June 29, 2018
|
| Coupon: | 8% per year, payable monthly if stock closes at or above trigger price on observation date for that month
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if Cat shares finish at or above trigger price; otherwise, full exposure to stock's decline
|
| Call: | Beginning July 1, 2014, automatically at par plus contingent coupon if Cat shares close at or above initial price on a monthly observation date
|
| Initial share price: | $23.23
|
| Trigger price: | $15.80, 68% of initial share price
|
| Pricing date: | June 26
|
| Settlement date: | June 28
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06742D721
|
© 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.
