By Angela McDaniels
Tacoma, Wash., April 23 - Barclays Bank plc priced $2.55 million of 8.75% airbag autocallable yield optimization notes due April 27, 2015 linked to the class A common stock of Workday, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par if Workday shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Workday shares equal to $1,000 divided by the conversion price. The conversion price is 72.5% of the initial share price.
UBS Financial Services Inc. and Barclays are the underwriters.
Issuer: | Barclays Bank plc
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | Workday, Inc. (Symbol: WDAY)
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Amount: | $2.55 million
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Maturity: | April 27, 2015
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Coupon: | 8.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless final share price is less than conversion price, in which case number of Workday shares equal to $1,000 divided by conversion price
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Call: | Automatically at par if Workday shares close at or above initial share price on any quarterly observation date
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Initial share price: | $77.93
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Conversion price: | $56.50, 72.5% of initial share price
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Pricing date: | April 21
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Settlement date: | April 24
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Underwriters: | UBS Financial Services Inc. and Barclays
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Fees: | 1.5%
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Cusip: | 06742K543
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