By Marisa Wong
Madison, Wis., Jan. 29 - Barclays Bank plc priced $485,000 of callable contingent coupon notes due Jan. 29, 2015 linked to MetLife, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay an annualized coupon of 9% each quarter if the closing price of MetLife shares is at or above the 69.5% barrier level. Otherwise, no coupon will be paid that quarter.
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: | MetLife, Inc. (Symbol: MET)
|
| Amount: | $485,000
|
| Maturity: | Jan. 29, 2015
|
| Coupon: | 9% per year, payable quarterly if closing price of MetLife 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 26.560425 MetLife shares or cash value of those shares
|
| Call option: | At par plus contingent coupon on any quarterly contingent coupon payment date
|
| Initial price: | $37.65
|
| Barrier price: | $26.17, 69.5% of initial price
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741JWT2
|
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