Published on 4/9/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.71 million 8% callable yield notes on Apple
By Susanna Moon
Chicago, April 9 - Barclays Bank plc priced $4.71 million of 8% callable yield notes due April 13, 2016 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless the stock finishes below the knock-in level, 83% of the initial price, in which case the payout will be par plus the return with exposure to any losses or, at the issuer's option, a number of shares equal to $1,000 divided by the initial share price.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable yield notes
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Underlying stock: | Apple Inc. (Symbol: AAPL)
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Amount: | $4,705,000
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Maturity: | April 13, 2016
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Coupon: | 8%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless stock finishes below knock-in level, in which case par plus return with exposure to any losses or, at issuer's option, 0.88034 Apple shares
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Initial level: | $531.82
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Knock-in level: | $441.41, 83% of initial level
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Call option: | At par on any interest payment date
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Pricing date: | April 8
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Settlement date: | April 11
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Agent: | Barclays
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Fees: | 0.75%
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Cusip: | 06741J7F0
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