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Barclays plans 7.5%-9.5% airbag autocallable yield notes on JetBlue
By Devika Patel
Knoxville, Tenn., March 16 – Barclays Bank plc plans to price airbag autocallable yield optimization notes due March 24, 2017 linked to the common stock of JetBlue Airways Corp., according to an FWP with the Securities and Exchange Commission.
The interest rate is expected to be 7.5% to 9.5% and will be set at pricing. Interest will be payable monthly.
The notes will be called automatically at par if JetBlue 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 JetBlue shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
The notes (Cusip: 06744K715) will price March 18 and settle March 23.
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