By Toni Weeks
San Luis Obispo, Calif., June 14 - Barclays Bank plc priced $2.38 million of callable contingent coupon notes due June 18, 2015 linked to Deutsche Bank AG shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon at an annualized rate of 12.15% if Deutsche Bank 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.
If the notes are not called, 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 Deutsche Bank 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: | Deutsche Bank AG (Symbol: DB UN)
|
| Amount: | $2,382,000
|
| Maturity: | June 18, 2015
|
| Coupon: | 12.15% per year, payable quarterly if closing price of Deutsche Bank 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 21.42245 shares or cash equivalent
|
| Call option: | At par plus contingent coupon on any quarterly contingent coupon payment date
|
| Initial price: | $46.68
|
| Barrier price: | $30.34, 65% of initial price
|
| Pricing date: | June 13
|
| Settlement date: | June 18
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741J2T5
|
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