By Susanna Moon
Chicago, Nov. 26 – Barclays Bank plc priced $4.71 million of contingent income autocallable securities due Nov. 27, 2015 linked to Genworth Financial, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Genworth shares close at or above the barrier level, 65% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment of 4.25% for that quarter.
The notes will be called at par of $10 plus the contingent coupon if Genworth shares close at or above the initial level on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the barrier level, the payout at maturity will be par plus the final contingent coupon.
Otherwise, investors will receive a number of Genworth shares equal to $10 divided by the initial share price or, at the issuer’s option, a cash amount equal to the value of those shares.
Barclays is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Genworth Financial, Inc. (NYSE: GNW)
|
| Amount: | $4,708,870
|
| Maturity: | Nov. 27, 2015
|
| Coupon: | 4.25% per quarter if Genworth shares close at or above barrier level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is at or above barrier level, par plus final contingent coupon; otherwise, number of Genworth shares equal to $10 divided by initial share price or, at issuer’s option, equivalent amount in cash
|
| Call: | At par plus contingent coupon if Genworth shares close at or above initial level on any quarterly determination date other than final determination date
|
| Initial share price: | $9.56
|
| Barrier level: | $6.21, 65% of initial level
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 26
|
| Agent: | Barclays
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 1.25%
|
| Cusip: | 06740D640
|
|
|
|
|
© 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.
