New York, June 3 – Barclays Bank plc priced $2.74 million of phoenix autocallable notes due June 1, 2018 linked to the common stock of Under Armour, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.3% if Under Armour shares close at or above the coupon barrier price, 75% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any observation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless Under Armour shares finish below the 75% barrier level. If the stock finishes below the barrier level, investors will receive a cash payment equal to par plus the stock return or, at the issuer’s option, a number of Under Armour shares equal to $1,000 divided by the initial price.
Barclays is the agent.
Issuer: | Barclays
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Issue: | Phoenix autocallable notes
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Underlying stock: | Under Armour, Inc. (Ticker: UA)
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Amount: | $2,742,000
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Maturity: | June 1, 2018
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Coupon: | 14.3%, payable quarterly if stock closes at or above coupon barrier price on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if Under Armour shares finish at or above barrier level; otherwise, par plus stock return
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Call: | Automatically at par plus contingent coupon if Under Armour shares close at or above initial price on a quarterly observation date
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Initial share price: | $37.76
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Barrier/coupon barrier: | $28.32, 75% of initial price
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Pricing date: | May 26
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Settlement date: | June 1
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Agent: | Barclays
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Fees: | 1.75%
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Cusip: | 06741V3Y6
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