By William Gullotti
Buffalo, N.Y., Aug. 12 – Barclays Bank plc priced $472,000 of phoenix autocallable notes due June 17, 2022 linked to the common stock of Xilinx, Inc., according to a 424B2 filing with Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.5% if the stock closes at or above its 71% coupon barrier on a related observation date.
The notes will be called at par plus contingent coupon if the stock closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par unless the stock finishes below 71% of its initial value in which case investors will be fully exposed to the losses of the stock, payable either as 8.47458 shares of the stock or cash at the issuer’s option.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Xilinx, Inc.
|
| Amount: | $472,000
|
| Maturity: | June 17, 2022
|
| Coupon: | 7.5% annualized, payable monthly if stock closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless underlying stock finishes below final barrier, in which case full exposure to loss of stock, payable in shares or cash at issuer’s option
|
| Call: | At par plus contingent coupon if underlying stock closes at or above initial level on any monthly call observation date after six months
|
| Initial level: | $118.00
|
| Coupon barrier level: | $83.78; 71% of initial level
|
| Final barrier level: | $83.78; 71% of initial level
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Agent: | Barclays
|
| Fees: | 2.15%
|
| Cusip: | 06741WUC2
|
© 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.
