By Wendy Van Sickle
Columbus, Ohio, June 8– Barclays Bank plc priced $7.3 million of 8.7% trigger securities due Dec. 12 2017 linked to the 30-year U.S. Dollar ICE Swap Rate minus the two-year U.S. Dollar ICE Swap Rate, according to a 424B2 filed with the Securities and Exchange Commission.
Interest is payable monthly.
If the final swap rate spread is at least 50% of the initial spread, the payout at maturity will be par. If the final spread is less than 50% of the initial spread, investors will lose 1% for each 1% the final spread is less than the initial spread.
Barclays is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Barclays Bank plc
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| Issue: | Fixed-coupon trigger securities
|
| Underlying spread: | 30-year U.S. Dollar ICE Swap Rate minus the two-year U.S. Dollar ICE Swap Rate
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| Amount: | $7.3 million
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| Maturity: | Dec. 12, 2017
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| Coupon: | 8.7%, payable monthly.
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| Price: | Par
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| Payout at maturity: | Par if final spread is at least 50% of initial spread; otherwise, 1% loss for each 1% decline of final spread from initial spread
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| Initial spread: | 0.968%
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| Threshold spread: | 0.865%, 50% of initial spread
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| Pricing date: | June 5
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| Settlement date: | June 12
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| Agent: | Barclays with Morgan Stanley Wealth Management as dealer
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| Fees: | 1.75%
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| Cusip: | 06741VYC0
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