By Angela McDaniels
Tacoma, Wash., Feb. 13 – Barclays Bank plc priced $1 million of 0% phoenix autocallable notes due Feb. 17, 2016 linked to the American Depositary Shares representing ordinary shares of Vipshop Holdings Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 15% per year if Vipshop ADSs close at or above the barrier price, 58% of the initial ADS price, on the observation date for that month. Otherwise, no coupon will be paid for that month.
Beginning April 13, the notes will be called at par plus the contingent coupon if the ADSs close at or above the initial price on any monthly observation date.
If the notes are not called and the ADSs finish at or above the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the final ADS price is less than the initial ADS price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Phoenix autocallable notes
|
| Underlying stock: | Vipshop Holdings Ltd. (Symbol: VIPS)
|
| Amount: | $1 million
|
| Maturity: | Feb. 17, 2016
|
| Coupon: | 15%, payable monthly if ADSs close at or above barrier price on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if Vipshop ADSs finish at or above barrier price; otherwise, par plus ADS return
|
| Call: | Automatically at par plus contingent coupon if Vipshop ADSs close at or above initial price on any monthly observation date
|
| Initial ADS price: $21.59
|
| Barrier price: | $12.52, 58% of initial price
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 17
|
| Agent: | Barclays
|
| Fees: | 1.25%
|
| Cusip: | 06741WAC4
|
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