Barclays to price 6%-8% airbag autocallables linked to Bank of America

By Angela McDaniels

Tacoma, Wash., Feb. 4 – Barclays Bank plc plans to price 6% to 8% airbag autocallable yield optimization notes due Feb. 15, 2017 linked to the common stock of Bank of America Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The notes will be called automatically at par if Bank of America shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Bank of America shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.

UBS Financial Services Inc. and Barclays are the agents.

The notes are expected to price Feb. 5.

The Cusip number is 06744K400.

© 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.