By Angela McDaniels
Tacoma, Wash., Sept. 28 - Barclays Bank plc priced $8.75 million of contingent quarterly payment callable yield notes due Sept. 28, 2017 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Noteholders will receive quarterly interest payments at the rate of 7.6% per year if the lesser-performing index closes at or above its barrier level, 55% of its initial level, on the valuation date for that quarter.
If the final level of the lesser-performing index is greater than or equal to its barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-performing index from its initial level.
Beginning Sept. 28, 2013, the notes are callable at par on any interest payment date.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent quarterly payment callable yield notes
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| Underlying indexes : | S&P 500 and Russell 2000
|
| Amount: | $8.75 million
|
| Maturity: | Sept. 28, 2017
|
| Coupon: | Noteholders will receive quarterly interest payments at rate of 7.6% per year if lesser-performing index closes at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final level of lesser-performing index is greater than or equal to barrier level, par; otherwise, full exposure to decline of lesser-performing index
|
| Call option: | At par on any interest payment date from Sept. 28, 2013 onward
|
| Initial index levels: | 1,441.59 for S&P 500 and 839.12 for Russell 2000
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| Barrier levels: | 792.88 for S&P 500 and 461.52 for Russell 2000; 50% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 28
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| Agent: | Barclays
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| Fees: | 2%
|
| Cusip: | 06741TGJ0
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