New Issue: Barclays prices $340,000 autocallable reverse exchangeables tied to Chicago Bridge

By Susanna Moon

Chicago, Aug. 27 – Barclays Bank plc priced $340,000 of 12.5% autocallable single observation reverse convertible notes due Aug. 26, 2016 linked to Chicago Bridge & Iron Co. NV shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if Chicago Bridge stock closes at or above the initial share price on either review date.

The payout at maturity will be par unless the stock ever closes below the barrier level, 65% of the initial share price, during the life of the notes and finishes below the initial level, in which case investors will receive a number of Chicago Bridge shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Autocallable reverse convertible notes
Underlying stock:	Chicago Bridge & Iron Co. NV (Symbol: CBI)
Amount:	$340,000
Maturity:	Aug. 26, 2016
Coupon:	12.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless the stock ever dips below the barrier level and finishes below the initial level, in which case 25.36783 Chicago Bridge shares
Call:	At par if stock closes at or above initial share price on Feb. 25, 2016 or May 25, 2016
Initial share price:	$39.42
Barrier price:	$25.62, 65% of initial share price
Pricing date:	Aug. 25
Settlement date:	Aug. 28
Agent:	Barclays
Fees:	2.1%
Cusip:	06741WBB5

© 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.