By Marisa Wong
Madison, Wis., June 10 – Barclays Bank plc priced $124,000 of trigger phoenix autocallable optimization securities due June 12, 2019 linked to the common stock of Carnival Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Carnival stock closes at or above the coupon barrier – 76% 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%. Otherwise, no coupon will be paid that month.
If the shares close at or above the initial price on any monthly observation date after one year, the notes will be called at par plus the contingent coupon.
If the notes are not called and Carnival shares finish at or above the 76% 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
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Carnival Corp. (Symbol: CCL)
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| Amount: | $124,000
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| Maturity: | June 12, 2019
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| Coupon: | 7%, payable monthly if stock closes at or above barrier price on observation date for that month
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Carnival shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if Carnival shares close at or above initial price on any monthly observation date beginning June 8, 2015
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| Initial share price: | $40.25
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| Barrier/trigger price: | $30.59, 76% of initial price
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| Pricing date: | June 6
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| Settlement date: | June 11
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| Underwriters: | UBS Financial Services Inc. and Barclays
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| Fees: | 2.5%
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| Cusip: | 06742W828
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