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

By Susanna Moon

Chicago, Oct. 7 - Barclays Bank plc plans to price contingent coupon callable notes due October 2015 linked to Hertz Global Holdings, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 12.75% if Hertz stock closes at or above the 70% barrier level on a determination date for that quarter.

The notes will be redeemed at par of $10 plus the contingent coupon if the stock closes at or above the initial share price on any quarterly determination date.

If the notes are not called and the stock finishes at or above the barrier level, the payout at maturity will be par plus the contingent coupon.

Otherwise, the payout will be a number of Hertz shares equal to $10 divided by the initial share price or, at the issuer's option, the cash value.

Barclays is the agent.

The notes will price and settle in October.

The Cusip number is 06741J4R7.

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