New Issue: Barclays prices $560,000 12.5% callable yield notes linked to Cummins

By Jennifer Chiou

New York, Sept. 10 - Barclays Bank plc priced $560,000 of 12.5% callable yield notes due March 7, 2014 linked to the common stock of Cummins Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes are callable at par on any interest payment date beginning on Dec. 4, 2012.

The payout at maturity will be par unless Cummins stock falls below its barrier level - 70% of its initial level - on the March 4, 2014 final valuation day, in which case investors will receive par plus the return.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable yield notes
Underlying stock:	Cummins Inc. (NYSE: CMI)
Amount:	$560,000
Maturity:	March 7, 2014
Coupon:	12.5%, payable quarterly
Price:	Par
Payout at maturity:	Par unless stock falls below 70% of its initial level on March 4, 2014, in which case par plus return
Initial share price:	$98.43
Protection level:	$68.90, 70% of initial share price
Call option:	At par on any interest payment date beginning on Dec. 4, 2012
Pricing date:	Sept. 6
Settlement date:	Sept. 11
Agent:	Barclays
Fees:	1.5%
Cusip:	06741TGB7

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