New Issue: Barclays prices $1.37 million callable contingent coupon notes tied to Valero Energy

By Susanna Moon

Chicago, Aug. 13 - Barclays Bank plc priced $1.37 million of callable contingent coupon notes due Feb. 12, 2015 linked to Valero Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a coupon at an annualized rate of 13.4% for each quarter that Valero Energy shares close at or above the 70% barrier level on the valuation date for that quarter.

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

The payout at maturity will be par unless Valero Energy shares finish below the 70% knock-in level, in which case investors will receive par plus the return or, at Barclays' option, a number of Valero Energy 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:	Valero Energy Corp. (Symbol: VLO)
Amount:	$1,372,000
Maturity:	Feb. 12, 2015
Coupon:	13.4% per year, payable quarterly if Valero Energy shares close at or above barrier level on valuation date for that quarter
Price:	Par
Payout at maturity:	Par unless Valero Energy shares finish below knock-in level, in which case par plus return or, at Barclays' option, 26.93240 Valero Energy shares
Call option:	At par plus contingent coupon on any interest payment date
Initial price:	$37.13
Knock-in/barrier price:	$25.99, 70% of initial price
Exchange ratio:	26.93240
Pricing date:	Aug. 9
Settlement date:	Aug. 14
Agent:	Barclays
Fees:	1.5%
Cusip:	06741TC88

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