By Marisa Wong
Madison, Wis., Dec. 17 - Barclays Bank plc priced $3.27 million of trigger phoenix autocallable optimization securities due Dec. 19, 2018 linked to Intel Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if Intel stock closes at or above the 67.25% trigger level on a monthly 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 monthly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless Intel 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: | Intel Corp. (Symbol: INTC)
|
| Amount: | $3,265,400
|
| Maturity: | Dec. 19, 2018
|
| Coupon: | 7% per year, payable monthly if Intel stock closes at or above trigger level on monthly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon unless Intel 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 monthly observation date beginning Dec. 22, 2014
|
| Initial price: | $24.29
|
| Trigger price: | $16.34, 67.25% of initial price
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 19
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06742E273
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
