By Jennifer Chiou
New York, Dec. 17 - Barclays Bank plc priced $7,445,840 of trigger phoenix autocallable optimization securities due June 19, 2015 linked to General Motors Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.5% if GM stock closes at or above the 75% trigger level on a quarterly observation date.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date.
The payout at maturity will be par plus the contingent coupon unless GM shares finish below the trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and Barclays are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | General Motors Co. (NYSE: GM)
|
| Amount: | $7,445,840
|
| Maturity: | June 19, 2015
|
| Coupon: | 9.5% per year, payable quarterly if GM stock closes at or above trigger level on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon unless GM shares finish below trigger level, in which case full exposure to any losses
|
| Call: | At par plus contingent coupon if shares close at or above initial price on any quarterly observation date
|
| Initial price: | $40.04
|
| Trigger price: | $30.03, 75% of initial price
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 19
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06742E224
|
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