By Angela McDaniels
Tacoma, Wash., Aug. 26 – Barclays Bank plc priced $3.77 million of 0% autocallable trigger Performance Leveraged Upside Securities due Aug. 25, 2017 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
If GE’s closing share price on Feb. 29, 2016 is 124% or more of the initial share price, the notes will be automatically called at $12.40 per $10.00 principal amount of notes.
If the notes are not called and the final share price is greater than the initial share price, the payout at maturity will be par plus 124% of the stock return.
If the final share price is 70% to 100% of the initial share price, the payout will be par.
If the final share price is less than 70% of the initial share price, the payout will be a number of shares of GE stock equal to $10 divided by the initial price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable trigger Performance Leveraged Upside Securities
|
| Underlying stock: | General Electric Co. (Symbol: GE)
|
| Amount: | $3,770,600
|
| Maturity: | Aug. 25, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than initial share price, par plus 124% of stock return; if final share price is greater than or equal to trigger value and less than or equal to initial share price, par; if final share price is less than trigger value, number of GE shares equal to $10 divided by initial price or, at issuer’s option, equivalent amount in cash
|
| Call: | Automatically at 124% of par if GE shares close at or above call threshold level on Feb. 29, 2016
|
| Initial share price: | $26.15
|
| Call threshold level: | $32.43, 124% of initial share price
|
| Trigger value: | $18.31, 70% of initial share price
|
| Pricing date: | Aug. 22
|
| Settlement date: | Aug. 27
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.25%
|
| Cusip: | 06742W216
|
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