By Susanna Moon
Chicago, Oct. 16 - Barclays Bank plc priced $6.86 million of trigger phoenix autocallable optimization securities due Oct. 18, 2017 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above the trigger price - 65% of the initial price - on a monthly observation date, the issuer will pay a contingent coupon for that month at an annualized rate of 8.33%.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on a quarterly observation date.
If the notes are not called and the shares finish at or above the trigger price, 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
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying fund: | iShares Russell 2000 index fund
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Amount: | $6,863,100
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Maturity: | Oct. 18, 2017
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Coupon: | 8.33% per year, payable monthly if fund 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 shares finish at or above trigger price; otherwise, par plus stock return
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Call: | At par plus contingent coupon if shares close at or above initial price on a quarterly observation date
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Initial share price: | $82.07
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Trigger price: | $53.35, 65% of initial share price
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Pricing date: | Oct. 12
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Settlement date: | Oct. 17
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Underwriters: | UBS Financial Services Inc. and Barclays
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Fees: | 2.5%
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Cusip: | 06742A628
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