By Toni Weeks
San Luis Obispo, Calif., April 30 - Barclays Bank plc priced $4.75 million of trigger phoenix autocallable optimization securities due April 30, 2019 linked to the common stock of Yahoo! Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Yahoo! stock closes at or above the coupon barrier - 64.5% 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 8%. 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 Yahoo! shares finish at or above the 64.5% 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: | Yahoo! Inc. (Symbol: YHOO)
|
| Amount: | $4,751,900
|
| Maturity: | April 30, 2019
|
| Coupon: | 8%, 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 Yahoo! shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Yahoo! shares close at or above initial price on any monthly observation date beginning April 28, 2015
|
| Initial share price: | $33.99
|
| Barrier/trigger price: | $21.92, 64.5% of initial price
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| Pricing date: | April 28
|
| Settlement date: | April 30
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 2.5%
|
| Cusip: | 06742K477
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