New Issue: Barclays prices $4.71 million callable yield notes linked to Apple

By Marisa Wong

Madison, Wis., April 24 – Barclays Bank plc priced $4.71 million of 8.3% callable yield notes due April 27, 2017 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes are callable at par on any interest payment date.

The payout at maturity will be par unless the stock finishes below the barrier price, 80% of the initial share price, in which case investors will be fully exposed to the stock’s decline or, at the issuer’s option, receive a number of Apple shares equal to $1,000 divided by the initial share price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable yield notes
Underlying stock:	Apple Inc. (Symbol: AAPL)
Amount:	$4,705,000
Maturity:	April 27, 2017
Coupon:	8.3%, payable quarterly
Price:	Par
Payout at maturity:	Par unless stock finishes below barrier price, in which case investors will either (a) have full exposure to stock’s decline or, at issuer’s option, (b) receive 7.77484 Apple shares
Call option:	At par on any interest payment date
Initial share price:	$128.62
Barrier price:	$102.90, 80% of initial share price
Pricing date:	April 22
Settlement date:	April 27
Agent:	Barclays
Fees:	1%
Cusip:	06741WAR1

© 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.