Published on 11/26/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.25 million 18.1% autocallables on GameStop, Micron
New York, Nov. 26 – Barclays Bank plc priced $3.25 million of 18.1% autocallable notes due May 29, 2015 linked to the worst performing of the common stock of GameStop Corp. and Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if the closing price of each stock is equal to or greater than its initial stock price on any quarterly call date.
The payout at maturity will be par unless either reference stock finishes below its barrier price, 75% of its initial price, in which case the payout will be a number of shares of the worst-performing stock equal to $1,000 divided by that stock’s initial share price or, at Barclays’option, the cash value of those shares.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Autocallable notes
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Underlying stocks: | GameStop Corp. (Symbol: GME) and Micron Technology, Inc. (Symbol: MU)
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Amount: | $3.25 million
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Maturity: | May 29, 2015
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Coupon: | 18.1%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless either reference stock finishes below its barrier price, 75% of its initial price, in which case a number of shares of the worst-performing stock equal to $1,000 divided by that stock’s initial share price or, at Barclays’ option, the cash value of those shares
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Call: | Automatically at par on a quarterly call date if each stock closes at or above its respective initial price
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Initial share prices: | $37.76 for GameStop, $34.73 for Micron
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Barrier prices: | $28.32 for GameStop, $26.05 for Micron, 75% of initial prices
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Pricing date: | Nov. 25
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Settlement date: | Nov. 28
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Underwriter: | Barclays
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Fees: | 2.5%
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Cusip: | 06741UMD3
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