By Susanna Moon
Chicago, April 1 - Barclays Bank plc priced $18.74 million of 9.04% airbag autocallable yield optimization notes due March 31, 2014 linked to United States Steel Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par plus the coupon if the stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called, 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 U.S. Steel shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | United States Steel Corp. (Symbol: X)
|
| Amount: | $18,736,000
|
| Maturity: | March 31, 2014
|
| Coupon: | 9.04%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than conversion price, in which case number of U.S. Steel shares equal to $1,000 divided by the conversion price
|
| Call: | At par plus accrued interest if U.S. Steel stock closes at or above initial share price on quarterly call date
|
| Initial share price: | $19.96
|
| Conversion price: | $15.97, 80% of initial share price
|
| Pricing date: | March 26
|
| Settlement date: | March 28
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06742C525
|
© 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.
