By Toni Weeks
San Luis Obispo, Calif., Jan. 29 - Barclays Bank plc priced $1.34 million of trigger phoenix autocallable optimization securities due Jan. 31, 2014 linked to the common stock of Endo Health Solutions Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Endo Health shares close at or above the trigger price - 75% of the initial share price - on any quarterly observation date, the issuer will pay a contingent coupon of 9.1%. Otherwise, no coupon will be paid for that quarter.
If the stock closes at or above the initial price on any quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Investors will be exposed to any losses.
Barclays and UBS Financial Services Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Endo Health Solutions Inc. (Nasdaq: ENDP)
|
| Amount: | $1,340,400
|
| Maturity: | Jan. 31, 2014
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| Coupon: | 9.1% per year, payable quarterly, if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and shares finish at or above trigger price, par plus contingent coupon; otherwise, full exposure to decline in share price
|
| Initial price: | $28.51
|
| Trigger price: | $21.38, 75% of initial price
|
| Call option: | At par plus contingent coupon if share price at or above initial price on any quarterly observation date beginning April 25, 2013
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| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 31
|
| Underwriters: | Barclays and UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 06742C301
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