By Toni Weeks
San Diego, Nov. 5 - Barclays Bank plc priced $10.3 million of contingent income autocallable securities due Nov. 8, 2013 linked to the common stock of Newmont Mining Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Newmont Mining stock closes above the downside threshold level - 80% of the initial share price - on a quarterly determination date, investors will receive a contingent payment of $0.339 for each $10.00 note. Otherwise, no contingent payment will be made for that period.
If the stock closes at or above the initial share price on any of the first three quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the contingent payment. If the final share price is less than the downside threshold level, the payout will be a number of Newmont Mining shares equal to the principal amount of notes divided by the initial share price or, at Barclays's option, the cash value of those shares.
Barclays is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Newmont Mining Corp. (Symbol: NEM)
|
| Amount: | $10,229,410
|
| Maturity: | Nov. 8, 2013
|
| Coupon: | 3.39% if closing price is at least 80% of initial price on quarterly determination date; otherwise, none
|
| Price: | Par
|
| Payout at maturity: | If final share price is at least 80% of initial price, par plus contingent quarterly payment; otherwise, a number of Newmont Mining shares or, at issuer's option, cash equivalent
|
| Call: | Par plus contingent payment if closing share price is greater than initial price on first three quarterly determination dates
|
| Initial price: | $54.55
|
| Downside threshold: | $43.64, 80% of initial share price
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | Barclays with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 1.5%
|
| Cusip: | 06742A651
|
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