By Susanna Moon
Chicago, July 5 - Barclays Bank plc priced $265,000 of phoenix autocallable notes due July 23, 2014 linked to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 16.4% if Las Vegas Sands shares close at or above the 75% barrier level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if Las Vegas Sands shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and Las Vegas Sands shares finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
Barclays is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Las Vegas Sands Corp. (NYSE: LVS)
|
| Amount: | $265,000
|
| Maturity: | July 23, 2014
|
| Coupon: | 16.4% per year if Las Vegas Sands shares close at or above barrier price on observation date for quarter
|
| Price: | Par
|
| Payout at maturity: | If Las Vegas Sands shares finish at or above barrier price, par plus contingent coupon; otherwise, full exposure to decline in share price
|
| Call: | At par plus contingent coupon if Las Vegas Sands shares close at or above initial price on any quarterly date
|
| Initial share price: | $51.79
|
| Barrier price: | $38.84, 75% of initial share price
|
| Pricing date: | July 2
|
| Settlement date: | July 8
|
| Underwriter: | Barclays
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 06741TYU5
|
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