By Susanna Moon
Chicago, Aug. 5 – Barclays Bank plc priced $15.6 million of contingent income autocallable securities due Aug. 4, 2017 linked to Walgreen Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 2.75% if Walgreen stock closes at or above the 80% barrier level on the determination date for that quarter.
If Walgreen shares close at or above the initial price on any quarterly determination date other than the final one, the notes will be redeemed at par of $10 plus the contingent payment.
If the notes are not called and Walgreen stock finishes at or above the barrier level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will receive a number of shares of Walgreen stock equal to $10 divided by the initial share price or, at the issuer's option, the cash value of those shares.
Barclays is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Walgreen Co. (Symbol: WAG)
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| Amount: | $15,599,330
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| Maturity: | Aug. 4, 2017
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| Contingent payment: | 2.75% for quarter if Walgreen stock closes at or above barrier level on determination date for that quarter
|
| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if Walgreen stock finishes at or above barrier level; otherwise a number of Walgreen shares equal to $10 divided by initial price or, at issuer’s option, equivalent cash value
|
| Call: | At par plus contingent payment if Walgreen stock closes at or above the initial price on any determination date other than the final determination date
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| Initial level: | $70.53
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| Barrier level: | $56.42, 80% of initial price
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| Pricing date: | Aug. 1
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| Settlement date: | Aug. 6
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| Agent: | Barclays with Morgan Stanley Wealth Management as dealer
|
| Fees: | 2.25%
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| Cusip: | 06742W323
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