By Marisa Wong
Madison, Wis., Aug. 19 – Barclays Bank plc priced $2.93 million of phoenix autocallable notes due Sept. 2, 2015 linked to the common stock of YUM! Brands, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.1% if YUM! stock closes at or above the barrier level, 85% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if YUM! shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and YUM! 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
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| Issue: | Phoenix autocallable notes
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| Underlying stock: | YUM! Brands, Inc. (Symbol: YUM)
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| Amount: | $2.93 million
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| Maturity: | Sept. 2, 2015
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| Coupon: | 11.1% per year, payable quarterly if YUM! stock closes at or above barrier level on quarterly observation date
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| Price: | Par of $1,000
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| Payout at maturity: | If YUM! shares finish at or above barrier level, par plus contingent coupon; otherwise, investors will be fully exposed to any losses
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| Call: | At par plus contingent coupon if YUM! shares close at or above initial share price on any quarterly observation date
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| Initial price: | $71.48
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| Barrier/trigger price: | $60.76, 85% of initial price
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| Final price: | Average of closing share prices on five trading dates ending Aug. 28, 2015
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 20
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| Underwriter: | Barclays with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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| Fees: | 1%
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| Cusip: | 06741UHM9
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