Barclays to price callable contingent coupon notes linked to Intel

By Marisa Wong

Madison, Wis., June 4 - Barclays Bank plc plans to price callable contingent coupon notes due June 2015 linked to the common stock of Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon of at least 1.75% (equivalent to 7% per year) if the closing price of Intel shares is greater than or equal to the barrier price, 75% of the initial share price, on the valuation date for that quarter. Otherwise, holders will not receive a contingent coupon for that quarter. The exact contingent coupon rate will be set at pricing.

The notes will be callable at par plus the contingent coupon, if any, on any interest payment date.

If the notes are not called and the final share price is greater than or equal to the barrier price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is below the initial share price or, at Barclays' option, receive a number of Intel shares equal to $1,000 divided by the initial share price.

Barclays is the agent.

The notes will price and settle in June.

The Cusip number is 06741J2L2.

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