By William Gullotti
Buffalo, N.Y., July 26 – Barclays Bank plc priced $1.25 million of 6.1% autocallable fixed-coupon notes due June 2, 2023 linked to the common stock of Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if the stock closes at or above its initial level on any quarterly call valuation date after one year.
If the notes are not called, the payout at maturity will be par unless the stock finishes below 75% of its initial level, in which case investors will receive a number of shares equal to $10,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option.
Barclay is the agent.
Issuer: | Barclays Bank plc
|
Issue: | Autocallable fixed-coupon notes
|
Underlying stock: | Chevron Corp.
|
Amount: | $1.25 million
|
Maturity: | June 2, 2023
|
Coupon: | 6.1%, payable monthly
|
Price: | Par of $10,000
|
Payout at maturity: | Par unless stock finishes below barrier level, in which case investors will receive 96.3484 shares per note or the cash equivalent at the issuer’s option
|
Call: | At par if stock closes at or above initial level on any quarterly call valuation date after one year
|
Initial level: | $103.79
|
Barrier level: | $77.84, 75% of initial level
|
Pricing date: | May 28
|
Settlement date: | June 3
|
Agent: | Barclays
|
Fees: | 1.75%
|
Cusip: | 06741WVF4
|
|
© 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.