By Susanna Moon
Chicago, May 23 - Barclays Bank plc priced $3.6 million of 0% autocallable return enhanced notes due June 9, 2015 linked to Citigroup Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stocks closes at or above the call level, 103.6% of the initial index level, on any quarterly review date, the notes will be called at par plus a call premium of 7.2%.
If the notes are not called, the payout at maturity will be par plus double any gain in Citigroup shares, up to a maximum return of 7.2%.
Investors will be exposed to any losses.
Barclays is the underwriter with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable return enhanced notes
|
| Underlying stock: | Citigroup Inc. (NYSE: C)
|
| Amount: | $3.6 million
|
| Maturity: | June 9, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any gain in Citigroup shares, capped at 7.2%; exposure to any losses
|
| Call: | At par plus 7.2% if Citigroup stock closes at or above call level on any quarterly review date
|
| Initial level: | $46.85
|
| Call level: | $48.54, or 103.6% of initial level
|
| Pricing date: | May 21
|
| Settlement date: | May 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 06741UEA8
|
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