By Jennifer Chiou
New York, Dec. 24 - Barclays Bank plc priced $1,233,000 of 7% airbag autocallable yield optimization notes due Dec. 29, 2014 linked to the common stock of Ann Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par if Ann shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Ann shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
UBS Financial Services Inc. and Barclays are the underwriters.
Issuer: | Barclays Bank plc
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | Ann Inc. (Symbol: ANN)
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Amount: | $1,233,000
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Maturity: | Dec. 29, 2014
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Coupon: | 7%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, Ann shares equal to $1,000 divided by the conversion price; otherwise, par
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Call: | Automatically at par if Ann shares close at or above initial share price on any quarterly observation date beginning on March 27
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Initial share price: | $36.42
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Conversion price: | $30.96, 85% of initial share price
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Pricing date: | Dec. 20
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Settlement date: | Dec. 31
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Underwriters: | UBS Financial Services Inc. and Barclays
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Fees: | 1.5%
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Cusip: | 06742B204
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