By Toni Weeks
San Luis Obispo, Calif., March 18 - Barclays Bank plc priced $2 million of callable contingent coupon notes due March 19, 2015 linked to Peabody 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 19% if Peabody shares close at or above the barrier level - 70% of the initial share price - on the valuation date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the 70% knock-in level, in which case investors will receive a number of Peabody shares equal to $1,000 divided by the initial share price or, at Barclays' option, the cash equivalent.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying stock: | Peabody Energy Corp. (Symbol: BTU)
|
| Amount: | $2 million
|
| Maturity: | March 19, 2015
|
| Coupon: | 19% per year, payable quarterly if closing price of Peabody shares is equal to or greater than barrier price; otherwise, no contingent interest payment for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than barrier price, in which case 46.146747 shares or cash equivalent
|
| Call option: | At par plus contingent coupon on any quarterly contingent coupon payment date
|
| Initial price: | $21.67
|
| Barrier price: | $15.17, 70% of initial price
|
| Pricing date: | March 14
|
| Settlement date: | March 19
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741JYH6
|
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