By Wendy Van Sickle
Columbus, Ohio, March 8 – Barclays Bank plc priced $2.63 million of trigger autocallable contingent yield notes due March 11, 2020 linked to General Motors Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 10.25% if the stock closes at or above its 75% coupon barrier on the related quarterly observation date.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% decline.
UBS Financial Services Inc. and Barclays are the agents.
Issuer: | Barclays Bank plc
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying stock: | General Motors Co.
|
Amount: | $2,634,000
|
Maturity: | March 11, 2020
|
Coupon: | 10.25% annualized, payable quarterly if stock closes at or above its coupon barrier on related quarterly observation date
|
Price: | Par of $10
|
Payout at maturity: | If stock finishes at or above downside threshold, par plus contingent coupon; otherwise, 1% loss per 1% decline
|
Call: | At par if stock closes at or above its initial price on any quarterly observation date
|
Initial price: | $38.67
|
Coupon barrier: | $29.00, 75% of initial price
|
Downside threshold: | $29.00, 75% of initial price
|
Pricing date: | March 6
|
Settlement date: | March 11
|
Agents: | UBS Financial Services Inc. and Barclays
|
Fees: | 1.5%
|
Cusip: | 06746Y218
|
|
© 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.