By Susanna Moon
Chicago, Jan. 7 - Barclays Bank plc priced $4.2 million of phoenix autocallable notes due Jan. 22, 2015 linked to Qlik Technologies Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Qlik stock closes at or above the barrier level, 60% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at an annual rate of 18.5% for that quarter.
If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Qlik shares finish at or above the 60% barrier price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
Barclays is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Qlik Technologies Inc. (Symbol: QLIK)
|
| Amount: | $4.2 million
|
| Maturity: | Jan. 22, 2015
|
| Coupon: | 18.5% per year, payable quarterly if stock closes at or above barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Qlik shares finish at or above trigger level; otherwise, full exposure to any losses
|
| Call: | At par plus contingent coupon if Qlik shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $25.60
|
| Barrier level: | $15.36, 60% of initial share price
|
| Pricing date: | Jan. 3
|
| Settlement date: | Jan. 8
|
| Underwriter: | Barclays with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
|
| Fees: | 1%
|
| Cusip: | 06741T3Z8
|
© 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.
