By Angela McDaniels
Tacoma, Wash., June 16 – Barclays Bank plc priced $2.17 million of contingent income autocallable securities due June 16, 2016 linked to the common stock of Wynn Resorts Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent payment at an annualized rate of 12% if Wynn Resorts shares close at or above the downside threshold level, 75% of the initial share price, on the determination date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if Wynn Resorts shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will receive a number of Wynn Resorts shares equal to $10 divided by the initial share price or, at the issuer’s option, a cash amount equal to the value of those shares.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Wynn Resorts Ltd. (Symbol: WYNN)
|
| Amount: | $2,167,150
|
| Maturity: | June 16, 2016
|
| Coupon: | 12% per year, payable quarterly if Wynn Resorts shares close at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, number of Wynn Resorts shares equal to $10 divided by initial share price or, at issuer’s option, equivalent amount in cash
|
| Call: | At par plus contingent coupon if Wynn Resorts shares close at or above initial share price on any quarterly determination date other than final determination date
|
| Initial share price: | $102.79
|
| Downside threshold: | $77.093, 75% of initial share price
|
| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 06743P152
|
© 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.
