Barclays plans callable contingent coupon notes linked to Baker Hughes

By Susanna Moon

Chicago, Dec. 12 - Barclays Bank plc plans to price callable contingent coupon notes due Dec. 18, 2014 linked to Baker Hughes Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a coupon at an annualized rate of 10% for each quarter that the closing price of Baker Hughes shares is at or above the barrier level, which will be 62% to 67% of the initial level. The exact deal terms will be set at pricing.

The notes are callable at par plus the contingent coupon on any of the quarterly contingent coupon payment dates.

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

Otherwise, investors will be fully exposed to any losses.

Barclays is the agent.

The notes will price on Dec. 14 and settle on Dec. 19.

The Cusip number is 06741JVT3.

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