Published on 1/13/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.32 million phoenix autocallables linked to GameStop
By Angela McDaniels
Tacoma, Wash., Jan. 13 - Barclays Bank priced $1.32 million of phoenix autocallable notes due Jan. 14, 2015 linked to the class A common stock of GameStop Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the issuer will pay a contingent coupon at the rate of 15.65% per year if GameStop shares close at or above the barrier price, 65% of the initial share price, on the observation date for that month.
Beginning March 10, the notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any monthly observation date.
If the notes are not called and the shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | GameStop Corp. (Symbol: GME)
|
| Amount: | $1,323,000
|
| Maturity: | Jan. 14, 2015
|
| Coupon: | 15.65% per year, payable monthly if GameStop shares close at or above barrier price on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If shares finish at or above barrier price, par plus contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | Beginning March 10, automatically at par plus contingent coupon if stock closes at or above initial price on any monthly observation date
|
| Initial share price: | $43.35
|
| Barrier price: | $29.48, 65% of initial price
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 14
|
| Agent: | Barclays
|
| Fees: | 1.25%
|
| Cusip: | 06741T4K0
|
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