Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Barclays Bank plc > News item |
Barclays to price phoenix autocallable securities tied to Tesoro
By Toni Weeks
San Luis Obispo, Calif., April 16 – Barclays Bank plc plans to price phoenix autocallable notes due April 21, 2016 linked to the common stock of Tesoro Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Tesoro stock closes at or above the barrier level, 65% of the initial share price, on a monthly observation date, the notes will pay a contingent coupon at an annualized rate of 12% for that month.
If the shares close at or above the initial price on any monthly observation date beginning June 17, the notes will be called at par plus the contingent coupon.
If the notes are not called and Tesoro 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 the share price decline.
Barclays is the underwriter.
The notes will price April 17 and settle April 22.
The Cusip number is 06741WAQ3.
© 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.