Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for General Motors Co. > News item |
Barclays plans callable contingent coupon notes tied to General Motors
By Susanna Moon
Chicago, April 3 - Barclays Bank plc plans to price callable contingent coupon notes due April 2015 linked to General Motors Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon at an annualized rate of 10% if General Motors shares close at or above the barrier level - 70% of the initial share price - on the valuation date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless the stock finishes below the 70% knock-in level, in which case investors will receive a number of General Motors shares equal to $1,000 divided by the initial share price or, at Barclays' option, the cash equivalent.
Barclays is the agent.
The notes will price and settle in April.
The Cusip number is 06741JYW3.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.