By Toni Weeks
San Luis Obispo, Calif., Dec. 30 – Barclays Bank plc priced $2.11 million of callable contingent coupon notes due Dec. 29, 2016 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 11.78% if Halliburton shares close at or above the 58.5% barrier price on the valuation date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless Halliburton shares finish below the 58.5% barrier price, in which case investors will receive par plus the stock return or, at the issuer’s option, a number of shares equal to $1,000 divided by the initial share price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying stock: | Halliburton Co. (Symbol: HAL)
|
| Amount: | $2.11 million
|
| Maturity: | Dec. 29, 2016
|
| Coupon: | 11.78% per year, payable quarterly if closing price of Halliburton shares is greater than or equal to barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Halliburton shares finish below barrier price, in which case par plus stock return or, at issuer’s option, 25.07523 Halliburton shares
|
| Call option: | At par plus contingent coupon on any interest payment date
|
| Initial share price: | $39.88
|
| Barrier price: | $23.33, 58.5% of initial share price
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741JY86
|
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