New Issue: Barclays prices $1.38 million callable contingent coupon notes tied to salesforce.com

By Toni Weeks

San Luis Obispo, Calif., Aug. 19 – Barclays Bank plc priced $1.38 million of callable contingent coupon notes due Aug. 18, 2016 linked to salesforce.com, inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon at an annualized rate of 11% for each quarter that salesforce.com shares close above the 65% coupon barrier level on a quarterly valuation date.

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

The payout at maturity will be par unless the salesforce.com shares finish below the 65% knock-in barrier level, in which case investors will receive a number of salesforce.com shares equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying stock:	salesforce.com, inc. (Symbol: CRM)
Amount:	$1,382,000
Maturity:	Aug. 18, 2016
Coupon:	11% per year, payable quarterly, if stock closes at or above barrier level on quarterly observation date
Price:	Par
Payout at maturity:	Par unless stock finishes below knock-in level, in which case 18.64628 salesforce.com shares or, at issuer’s option, cash value of those shares
Call option:	At par plus contingent coupon, if any, on any interest payment date beginning on Nov. 17
Initial price:	$53.63
Barrier/knock-in level:	$34.86, 65% of initial price
Pricing date:	Aug. 15
Settlement date:	Aug. 20
Agent:	Barclays
Fees:	1.75%
Cusip:	06741JW21

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