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Barclays to price trigger phoenix autocallables linked to Ford
By Angela McDaniels
Tacoma, Wash., March 11 - Barclays Bank plc plans to price trigger phoenix autocallable optimization securities due March 21, 2018 linked to the common stock of Ford Motor Co., according to an FWP filing with the Securities and Exchange Commission.
If Ford stock closes at or above the trigger price - 61% to 66% of the initial share price - on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 8% per year. Otherwise, no coupon will be paid that month. The exact contingent coupon rate will be set at pricing.
Beginning March 21, 2014, the notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on a monthly observation date.
If the notes are not called and Ford shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and Barclays are the underwriters.
The notes are expected to price March 15 and settle March 20.
The Cusip number is 06742C640.
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