By Marisa Wong
Madison, Wis., Sept. 4 - Barclays Bank plc priced $3.39 million of contingent income autocallable securities due Sept. 8, 2015 linked to the common stock of Broadcom Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Broadcom stock closes at or above the downside threshold level, 70% of the initial share price, on a quarterly determination date, investors will receive a contingent payment of $0.281 for each $10.00 note. Otherwise, no contingent payment will be made that quarter.
If the closing share price is greater than or equal to the initial share price on any of the first 11 quarterly determination dates, the notes will be automatically redeemed at par plus the contingent payment.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the contingent payment. If the final share price is less than the downside threshold level, the payout will be a number of Broadcom shares equal to $10.00 divided by the initial share price or, at Barclays' option, a cash amount equal to the value of those shares.
Barclays Capital Inc. is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Broadcom Corp. (NYSE: BRCM)
|
| Amount: | $3,392,900
|
| Maturity: | Sept. 8, 2015
|
| Contingent payment: | If Broadcom stock closes at or above downside threshold level on quarterly determination date, $0.281 per note; otherwise, no contingent payment will be made 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 contingent payment; otherwise, number of Broadcom shares equal to $10.00 divided by the initial share price or cash equivalent
|
| Call: | Automatically at par plus contingent payment if closing share price is greater than or equal to initial share price on any of the first 11 quarterly determination dates
|
| Initial share price: | $34.99
|
| Downside threshold level: | $24.49, 70% of initial share price
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Agent: | Barclays Capital Inc.
|
| Dealer: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.25%
|
| Cusip: | 06738G233
|
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