By Angela McDaniels
Tacoma, Wash., Oct. 1 - Barclays Bank plc priced $770,000 of phoenix autocallable securities due Oct. 16, 2014 linked to the ordinary shares of UBS AG, according to a 424B2 filing with the Securities and Exchange Commission.
If UBS shares close at or above the barrier level, 80% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 10% for that quarter.
If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and UBS shares finish at or above the 80% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the share price decline.
Barclays is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable securities
|
| Underlying shares: | UBS AG (Symbol: UBS)
|
| Amount: | $770,000
|
| Maturity: | Oct. 16, 2014
|
| Coupon: | 10% per year, payable quarterly if shares close at or above barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if UBS shares finish at or above trigger level; otherwise, 1% loss for every 1% that shares decline from initial price
|
| Call: | Automatically at par plus contingent coupon if UBS shares close at or above initial price on any quarterly observation date
|
| Initial share price: $20.77
|
| Barrier/trigger price: | $16.62, 80% of initial share price
|
| Final share price: | Average of closing share prices on five trading days ending Oct. 10, 2014
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 2
|
| Underwriter: | Barclays
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 06741TP27
|
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