Barclays plans two-year callable contingent coupon notes tied to Cisco

By Susanna Moon

Chicago, June 24 - Barclays Bank plc plans to price callable contingent coupon notes due June 30, 2015 linked to Cisco Systems, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a coupon at an annualized rate of 9% for each quarter that the closing price of Cisco shares is at or above the 75% barrier level on the valuation date for that quarter.

The notes will be callable at par plus the contingent coupon on any interest payment date.

The payout at maturity will be par unless Cisco shares finish below the barrier level, in which case investors will receive par plus the return or, at Barclays' option, a number of Cisco shares equal to $1,000 divided by the initial share price.

Barclays is the agent.

The notes will price on June 25 and settle on June 28.

The Cusip number is 06741J3C1.

© 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.