By Toni Weeks
San Luis Obispo, Calif., March 19 - Barclays Bank plc priced $3.19 million of trigger phoenix autocallable optimization securities due March 20, 2019 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Ford stock closes at or above the coupon barrier - 67.17% of the initial share price - on a monthly observation date, the issuer will pay a contingent coupon for that month at an annualized rate of 7.5%. Otherwise, no coupon will be paid that month.
If the shares close at or above the initial price on a monthly observation date after one year, the notes will be called at par plus the contingent coupon.
If the notes are not called and Ford shares finish at or above the 67.17% 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.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Ford Motor Co. (Symbol: F)
|
| Amount: | $3,187,500
|
| Maturity: | March 20, 2019
|
| Coupon: | 7.5%, payable monthly if stock closes at or above barrier price on observation date for that month
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if Ford shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Ford shares close at or above initial price on any monthly observation date beginning March 16, 2015
|
| Initial share price: | $15.08
|
| Barrier/trigger price: | $10.13, 67.17% of initial price
|
| Pricing date: | March 14
|
| Settlement date: | March 19
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06742B287
|
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