New Issue: Barclays prices $3.57 million callable contingent coupon notes linked to Best Buy

By Toni Weeks

San Luis Obispo, Calif., Jan. 16 - Barclays Bank plc priced $3.57 million of callable contingent coupon notes due March 17, 2016 linked to Best Buy Co., Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at a rate of 4.85% per quarter if Best Buy shares close at or above the 60% barrier level 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 and the final share price is greater than or equal to the 60% barrier price, the payout at maturity will be par.

Otherwise, investors will be exposed to any losses or, at Barclays' option, they will receive a number of Best Buy shares equal to $1,000 divided by the initial share price.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent coupon notes
Underlying stock:	Best Buy Co., Inc. (Symbol: BBY)
Amount:	$3,565,000
Maturity:	March 17, 2016
Coupon:	4.85%, payable quarterly if Best Buy shares close at or above barrier price on valuation date for that quarter
Price:	Par
Payout at maturity:	Par if final share price is greater than or equal to barrier price; otherwise, exposure to share price decline or, at Barclays' option, 26.99055 Best Buy shares
Call option:	At par plus contingent coupon, if any, on any interest payment date
Initial share price:	$37.05
Barrier price:	$22.23, 60% of initial share price
Pricing date:	Jan. 14
Settlement date:	Jan. 17
Agent:	Barclays
Fees:	1.5%
Cusip:	06741J6A2

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.