New Issue: Barclays prices $2.4 million callable contingent coupon notes on Tenet

By Jennifer Chiou

New York, Dec. 1 – Barclays Bank plc priced $2,395,000 of callable contingent coupon notes due Dec. 1, 2016 linked to Tenet Healthcare Corp. 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 10% for each quarter that Tenet shares close above the 60% 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 Tenet shares finish below the 60% knock-in barrier level, in which case investors will receive a number of Tenet 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:	Tenet Healthcare Corp. (Symbol: THC)
Amount:	$2,395,000
Maturity:	Dec. 1, 2016
Coupon:	10% 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 20.73398 Tenet shares or, at issuer’s option, cash value of those shares
Call option:	At par plus contingent coupon on any interest payment date
Initial price:	$48.23
Barrier/knock-in level:	$28.94, 60% of initial price
Pricing date:	Nov. 26
Settlement date:	Dec. 2
Agent:	Barclays
Fees:	1.75%
Cusip:	06741JY37

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