By Jennifer Chiou
New York, Sept. 4 - Barclays Bank plc priced $950,000 of phoenix autocallable notes due Sept. 10, 2014 linked to Delta Air Lines Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Delta Air Lines stock closes at or above the 60% barrier level on a quarterly observation date, the notes will pay a contingent coupon at an annual rate of 12.8% for that quarter.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Delta Air Lines shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to any losses.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Delta Air Lines Inc. (Symbol: DAL)
|
| Amount: | $950,000
|
| Maturity: | Sept. 10, 2014
|
| Coupon: | 12.8% per year, payable quarterly if stock closes at or above barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Delta Air Lines shares finish at or above barrier price; otherwise, full exposure to any losses
|
| Call: | At par plus contingent coupon if Delta Air Lines shares close at or above initial price on a quarterly observation date
|
| Initial share price: | $19.11
|
| Barrier price: | $11.47, 60% of initial share price
|
| Pricing date: | Aug. 29
|
| Settlement date: | Sept. 4
|
| Agent: | Barclays
|
| Fees: | 1%
|
| Cusip: | 06741TG35
|
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