By Marisa Wong
Morgantown, W.Va., Aug. 19 – Barclays Bank plc priced $3.02 million of trigger phoenix autocallable optimization securities due Feb. 21, 2017 linked to the common stock of Mylan NV, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if Mylan stock closes at or above the trigger price, 75% of the initial price, on the observation date for that quarter.
If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.
The payout at maturity will be par plus the contingent coupon unless Mylan shares finish below the trigger price, in which case investors will be fully exposed to the share price decline.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Mylan NV (Symbol: MYL)
|
| Amount: | $3,022,600
|
| Maturity: | Feb. 21, 2017
|
| Coupon: | Contingent quarterly coupon at an annual rate of 9.25% if Mylan stock closes at or above the trigger price on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the contingent coupon unless Mylan shares finish below the trigger price, in which case investors will be fully exposed to the share price decline
|
| Call: | At par plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date
|
| Initial share price: | $54.36
|
| Barrier/trigger price: | $40.77, 75% of initial price
|
| Pricing date: | Aug. 14
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| Settlement date: | Aug. 19
|
| Agents: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06743Q721
|
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