By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Barclays Bank plc priced $8 million of 6.5% airbag autocallable yield notes due Dec. 27, 2017 linked to the common shares of Abbott Laboratories, according to a 424B2 with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par if Abbott 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 Abbott shares equal to $1,000 divided by the conversion price. The conversion price will be 90% of the initial share price.
UBS Financial Services Inc. and Barclays are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Airbag autocallable yield notes
|
| Underlying stock: | Abbott Laboratories (Symbol: ABT)
|
| Amount: | $8 million
|
| Maturity: | Dec. 27, 2017
|
| Coupon: | 6.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than conversion price, in which case 29.0529 Abbott shares per $1,000 principal amount
|
| Call: | Automatically at par if Abbott shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $38.24
|
| Conversion price: | $34.42, 90% of initial share price
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Underwriters: | UBS Financial Services Inc. and Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06745R446
|
|
|
© 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.
