By Susanna Moon
Chicago, Dec. 26 - Barclays Bank plc priced $380,000 of callable contingent coupon notes due Dec. 26, 2014 linked to Bank of New York Mellon Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay an annualized coupon of 8% each quarter if the closing price of Bank of New York shares is at or above the 68% barrier level.
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 unless the stock finishes below the barrier level, in which case investors will receive a number of shares equal to the principal amount of notes divided by the initial share price or the cash value of those shares.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying stock: | Bank of New York Mellon Corp. (Symbol: BK)
|
| Amount: | $380,000
|
| Maturity: | Dec. 26, 2014
|
| Coupon: | 8% per year, payable quarterly if closing price of Bank of New York shares is equal to or greater than barrier price
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than barrier price, in which case 37.167939 Bank of New York shares or cash value of those shares
|
| Call option: | At par plus contingent coupon on any quarterly contingent coupon payment date
|
| Initial price: | $26.20
|
| Barrier price: | $17.82, 68% of initial price
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 26
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741JVW6
|
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