By Susanna Moon
Chicago, May 17 - Barclays Bank plc priced $4.9 million of autocallable range accrual notes due May 20, 2015 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 7.15% annualized for each day that the fund closes at or above 75% of the initial level. Interest is payable quarterly.
If the fund finishes at or above the 75% trigger level, the payout at maturity will be par.
Otherwise, investors will lose 1% for each 1% decline beyond 25%.
The notes will be called at par if the fund closes above its initial level on Nov. 15, 2013, May 15, 2014 and Nov. 15, 2014.
Barclays Capital Inc.is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable range accrual notes
|
| Underlying fund: | iShares MSCI Emerging Markets index fund
|
| Amount: | $4,901,000
|
| Maturity: | May 20, 2015
|
| Coupon: | 7.15% annualized for each day that fund closes at or above strike level; payable quarterly
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par unless shares fall beyond trigger level, in which case investors will lose 1% per 1% drop beyond 25%
|
| Call: | At par if fund closes above initial price on Nov. 15, 2013, May 15, 2014 and Nov. 15, 2014
|
| Initial level: | $38.72
|
| Trigger level: | $29.04, or 75% of initial level
|
| Pricing date: | May 15
|
| Settlement date: | May 18
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 0.1%
|
| Cusip: | 06738K5G2
|
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