Barclays plans callable contingent coupon notes linked to Tesoro

By Susanna Moon

Chicago, Dec. 18 – Barclays Bank plc plans to price callable contingent coupon notes due Dec. 29, 2016 linked to Tesoro 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 12% that Tesoro shares close above the 58.5% barrier level on a 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 Tesoro shares finish below the 60% knock-in barrier level, in which case investors will be fully exposed to any losses.

Barclays is the agent.

The notes will price on Dec. 23 and settle on Dec. 29.

The Cusip number is 06741JY78.

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