By Jennifer Chiou
New York, Dec. 30 – Barclays Bank plc priced $1.5 million of 16.45% annualized autocallable notes due June 30, 2015 linked to the lesser performing of Gilead Sciences, Inc. and F5 Networks, Inc. shares, according to a 424B2 filing with the Notes and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the coupon if each stock closes at or above its initial price on any of the monthly call valuation dates beginning on March 26, 2015.
A knock-in event will occur if either stock closes below its barrier price, 75% of the initial price, during the life of the notes.
If the notes are not called and each stock finishes at or above the initial price or the final price of the lesser-performing stock is less than the initial price but a knock-in event does not occur, the payout at maturity will be par.
Otherwise, investors will receive a number of shares of the lesser-performing stock equal to $1,000 divided by its initial price or, at the issuer’s option, par plus the return of the lesser-performing stock.
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | Autocallable notes
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| Underlying stocks: | Gilead Sciences, Inc. (Symbol: GILD) and F5 Networks, Inc. (Symbol: FFIV)
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| Amount: | $1.5 million
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| Maturity: | June 30, 2015
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| Coupon: | 16.45%, payable monthly
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above the initial price or the final price of the lesser-performing stock is less than the initial price but a knock-in event does not occur, par; otherwise, a number of shares of the lesser-performing stock equal to $1,000 divided by its initial price or cash payment equal to that return
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| Call: | At par plus coupon if each stock closes at or above its initial price on any of the monthly call valuation dates beginning on March 26, 2015
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| Initial prices: | $97.30 for Gilead Sciences, $133.82 for F5 Networks
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| Barrier prices: | $72.98 for Gilead Sciences, $100.37 for F5 Networks; 75% of initial levels
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| Exchange ratios: | 10.27749 for Gilead Sciences, 7.47272 for F5 Networks
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| Pricing date: | Dec. 29
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| Settlement date: | Dec. 31
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| Agent: | Barclays
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| Fees: | 2.5%
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| Cusip: | 06741UNV2
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