By Susanna Moon
Chicago, Nov. 30 – Barclays Bank plc priced $412,300 of trigger phoenix autocallable optimization securities due Nov. 27, 2020 linked to Eaton Corp. plc shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if Eaton stock closes at or above the coupon barrier price, 65.5% of the initial price, on the observation date for that month.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless Eaton shares finish below the 65.5% trigger level, in which case investors will be fully exposed to any losses.
Barclays and UBS Financial Services Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying stock: | Eaton Corp. plc (Symbol: ETN)
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Amount: | $412,300
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Maturity: | Nov. 27, 2020
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Coupon: | 8% per year, payable monthly if Eaton stock closes at or above coupon barrier price on observation date for that month
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Price: | Par
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Payout at maturity: | Par plus the contingent coupon unless Eaton shares finish below the trigger price, in which case full exposure to losses
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Call: | At par plus the contingent coupon if the shares close at or above the initial price on any monthly observation date beginning Nov. 21, 2016
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Initial level: | $57.59
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Trigger level: | 65.5% of initial level
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Pricing date: | Nov. 20
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Settlement date: | Nov. 25
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Agents: | Barclays and UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 06743T774
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