By Susanna Moon
Chicago, May 28 - Barclays Bank plc priced $2.35 million of phoenix autocallable notes due June 1, 2015 linked to GameStop Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If GameStop stock closes at or above the trigger level, 57% of the initial price, on a monthly observation date, the notes will pay a contingent coupon at an annual rate of 15% for that month.
If the shares close at or above the initial price on any observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and GameStop shares finish at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to any losses.
Barclays is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | GameStop Corp. (Symbol: GME)
|
| Amount: | $2,352,000
|
| Maturity: | June 1, 2015
|
| Coupon: | 15% annualized for each month that GameStop stock closes at or above trigger price on a monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If GameStop shares finish at or above trigger price, par plus contingent coupon; otherwise, exposure to any losses
|
| Call: | At par plus contingent coupon if shares close at or above initial price on monthly observation date
|
| Initial price: | $36.88
|
| Trigger price: | $21.02, 57% of initial price
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Underwriter: | Barclays
|
| Fees: | 0.4%
|
| Cusip: | 06741UED2
|
© 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.
