New Issue: Barclays prices $415,000 callable contingent coupon notes on Adobe

By Wendy Van Sickle

Columbus, Ohio, Feb. 26 – Barclays Bank plc priced $415,000 of callable contingent coupon notes due Feb. 16, 2023 linked to the common stock of Adobe Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay an annualized coupon of 10.5% each quarter if the closing price of the stock closes at or above its barrier level, 75% of its initial share price, on the observation date for that period.

The notes will be callable at par plus any coupon due on any quarterly observation date.

If the notes are not called, the payout will be par plus unless the stock finishes below its barrier level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying stock:	Adobe Inc.
Amount:	$415,000
Maturity:	Feb. 16, 2023
Coupon:	10.5% per year, payable quarterly if stock closes at or above its coupon barrier level, 75% of its initial share price, on the observation date for that period
Price:	Par
Payout at maturity:	Par unless final share price is less than barrier level, in which case 2.00465 shares or cash equivalent
Call option:	At par plus any coupon due on any quarterly observation date
Initial share price:	$498.84
Barrier level:	$374.13, 75% of initial price
Pricing date:	Feb. 12
Settlement date:	Feb. 18
Agent:	Barclays
Fees:	1.75%
Cusip:	06741WQV5

© 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.