New Issue: Barclays prices $4.1 million 8.2% autocallable reverse convertibles on MGM Resorts

By Marisa Wong

Madison, Wis., May 15 – Barclays Bank plc priced $4.1 million of 8.2% autocallable single observation reverse convertible notes due May 17, 2017 linked to the common stock of MGM Resorts International, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

If the closing share price is equal to or greater than the initial price on any quarterly call date, the notes will be called at par plus accrued interest.

If the notes are not called, the payout at maturity will be par unless MGM stock falls by more than 30%, in which case investors will receive par plus the stock return with full exposure to losses or, at the issuer’s option, a number of shares of MGM stock equal to $1,000 divided by the initial share price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Autocallable single observation reverse convertible notes
Underlying stock:	MGM Resorts International (MGM)
Amount:	$4.1 million
Maturity:	May 17, 2017
Coupon:	8.2%, payable quarterly
Price:	Par
Payout at maturity:	If final share price is lower than barrier level, par plus return or, at issuer’s option, 52.30126 MGM shares; otherwise, par
Initial share price:	$19.12
Barrier price:	$13.38, 70% of initial share price
Pricing date:	May 13
Settlement date:	May 19
Agent:	Barclays
Fees:	2.25%
Cusip:	06741WAU4

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