By Susanna Moon
Chicago, May 14 - Barclays Bank plc priced $1 million of trigger phoenix autocallable optimization securities due May 14, 2019 linked to Facebook Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if Facebook stock closes at or above the trigger level, 58% of the initial share price, on an observation date for that month.
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 monthly observation date after one year.
If the notes are not called and Facebook shares finish at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and Barclays are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Facebook Inc. (Symbol: FB)
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| Amount: | $1 million
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| Maturity: | May 14, 2019
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| Coupon: | 10% per year, payable monthly if stock closes at or above trigger price on observation date for that month
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Facebook shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if Facebook shares close at or above initial price on any monthly observation date beginning May 11, 2015
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| Initial share price: | $56.76
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| Trigger price: | $32.92, 58% of initial share price
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| Pricing date: | May 9
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| Settlement date: | May 14
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| Underwriters: | UBS Financial Services Inc. and Barclays
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| Fees: | 2.5%
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| Cusip: | 06742K253
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