By Marisa Wong
Madison, Wis., July 30 – Barclays Bank plc priced $2.82 million of phoenix autocallable notes due Aug. 12, 2015 linked to CBS Corp. class B shares, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.55% if CBS stock closes at or above the barrier level, 80% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if CBS shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and CBS shares finish at or above the barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
Barclays is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | CBS Corp. (Symbol: CBS)
|
| Amount: | $2,828,000
|
| Maturity: | Aug. 12, 2015
|
| Coupon: | 10.55% per year, payable quarterly if CBS stock closes at or above barrier level on quarterly observation date
|
| Price: | Par of $1,000
|
| Payout at maturity: | If CBS shares finish at or above barrier level, par plus contingent coupon; otherwise, investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon if CBS shares close at or above initial share price on any quarterly observation date
|
| Initial price: | $57.73
|
| Barrier/trigger price: | $46.18, 80% of initial price
|
| Pricing date: | July 25
|
| Settlement date: | July 30
|
| Underwriter: | Barclays with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
|
| Fees: | 1%
|
| Cusip: | 06741UGJ7
|
|
|
© 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.
