By Susanna Moon
Chicago, July 16 - Barclays Bank plc priced $2.77 million of trigger phoenix autocallable optimization securities due July 18, 2018 linked to Oracle Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Oracle stock closes at or above the 71.5% trigger level on a monthly observation date, the notes will pay a contingent coupon at an annualized rate of 7% for that month.
If the shares close at or above the initial price on a monthly observation date, the notes will be called at par of $10 plus the contingent coupon beginning July 18, 2014.
If the notes are not called and Oracle 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 any losses.
UBS Financial Services Inc. and Barclays are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Oracle Corp. (NYSE: ORCL)
|
| Amount: | $2,771,000
|
| Maturity: | July 18, 2018
|
| Coupon: | 7% per year, payable monthly if stock closes at or above trigger price on observation date for that month
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if Oracle shares finish at or above trigger price; otherwise, full exposure to stock's decline
|
| Call: | At par plus contingent coupon if Oracle shares close at or above initial price on a monthly observation date beginning July 18, 2014
|
| Initial share price: | $31.25
|
| Trigger price: | $22.34, 71.5% of initial share price
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| Pricing date: | July 12
|
| Settlement date: | July 17
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06742D671
|
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