By Devika Patel
Knoxville, Tenn., Oct. 11 – Barclays Bank plc priced $845,000 of autocallable contingent interest notes due Oct. 25, 2017 linked to the common stock of Bristol-Myers Squibb Co., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.3% if Bristol-Myers shares close at or above the barrier level, 80% of the initial share price, on the review date for that quarter.
Beginning Jan. 19, 2017, the notes will be called at par plus the contingent coupon if Bristol-Myers shares close at or above the initial share price on any quarterly review date other than the final one.
If the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for each 1% decline.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable contingent interest notes
|
| Underlying shares: | Bristol-Myers Squibb Co. (Symbol: BMY)
|
| Amount: | $845,000
|
| Maturity: | Oct. 25, 2017
|
| Coupon: | 11.3% annualized for each quarter that Bristol-Myers stock closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless the stock finishes below its trigger level, in which case 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if Bristol-Myers shares close at or above initial share price on any quarterly review date other than the final date after Jan. 19, 2017
|
| Initial share price: | $55.43
|
| Barrier level: | $44.34, 80% of initial share price
|
| Pricing date: | Oct. 7
|
| Settlement date: | Oct. 12
|
| Agent: | Barclays
|
| Fees: | 1%
|
| Cusip: | 06741VCY6
|
|
|
© 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.
