New Issue: Barclays prices $2.35 million callable contingent coupon notes linked to Aruba Networks

By Susanna Moon

Chicago, July 16 – Barclays Bank plc priced $2.35 million callable contingent coupon notes due July 17, 2015 linked to Aruba Networks, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 15% if Aruba Networks shares close at or above the 60% barrier level on the observation date for that quarter.

The notes are callable on any coupon payment date at par.

The payout at maturity will be par unless the stock finishes below the 60% knock-in barrier level, in which case investors will receive a number of Aruba Networks 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:	Aruba Networks, Inc. (Symbol: ARUN)
Amount:	$2,352,000
Maturity:	July 17, 2015
Coupon:	15% per year, payable quarterly if Aruba Networks shares close at or above barrier price on valuation date for that quarter
Price:	Par
Payout at maturity:	Par if stock finishes at or above barrier level; otherwise, full exposure to any losses or, at Barclays’ option, 57.27377 Aruba Networks shares
Call option:	At par plus contingent coupon, if any, on any interest payment date
Initial share price:	$17.46
Barrier level:	$10.48, 60% of initial share price
Pricing date:	July 14
Settlement date:	July 17
Agent:	Barclays
Fees:	0.4%
Cusip:	06741JU64

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