New Issue: Barclays prices $1.63 million callable contingent coupon notes linked to Under Armour

By Toni Weeks

San Luis Obispo, Calif., Feb. 5 – Barclays Bank plc priced $1.63 million of callable contingent coupon notes due Feb. 8, 2017 linked to Under Armour, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 11% if Under Armour shares close at or above the 70% barrier price on the valuation date for that quarter.

The notes are callable at par plus the contingent coupon on any interest payment date.

The payout at maturity will be par unless Under Armour shares finish below the 70% barrier price, in which case investors will receive par plus the stock return or, at the issuer’s option, a number of shares equal to $1,000 divided by the initial share price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying stock:	Under Armour, Inc. (Symbol: UA)
Amount:	$1,025,000
Maturity:	Feb. 8, 2017
Coupon:	11% per year, payable quarterly if closing price of Under Armour shares is greater than or equal to barrier price on valuation date for that quarter
Price:	Par
Payout at maturity:	Par in cash unless Under Armour shares finish below barrier price, in which case par plus stock return or, at issuer’s option, 13.73061 Under Armour shares
Call option:	At par plus contingent coupon on any interest payment date
Initial share price:	$72.83
Barrier price:	$50.98, 70% of initial share price
Pricing date:	Feb. 3
Settlement date:	Feb. 6
Agent:	Barclays
Fees:	1.75%
Cusip:	06741JZ36

© 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.