Barclays plans callable contingent coupon notes tied to HollyFrontier

By Jennifer Chiou

New York, April 25 - Barclays Bank plc plans to price callable contingent coupon notes due April 2015 linked to HollyFrontier Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 11% if HollyFrontier shares close at or above the barrier level - 65% 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.

The payout at maturity will be par unless the stock finishes below the 65% knock-in level, in which case investors will receive a number of HollyFrontier shares equal to $1,000 divided by the initial share price or, at Barclays' option, the cash equivalent.

The notes (Cusip: 06741JZJ1) are expected to price and settle in April.

Barclays is the agent.

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