Barclays to price notes with variable coupon linked to 10 stocks

By Toni Weeks

San Diego, June 29 - Barclays Bank plc plans to price notes due July 31, 2018 linked to a basket of 10 common stocks, according a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of Apple Inc., CenturyLink, Inc., Darden Restaurants, Inc., Eli Lilly and Co., Freeport-McMoRan Copper & Gold Inc., Hewlett Packard Co., New York Community Bancorp, Inc., Northeast Utilities, Inc., Silver Wheaton Corp. and Walgreen Co.

The notes will pay a coupon each year equal to the greater of (a) the average of the stock performances on the applicable coupon observation date and (b) 1%.

If a stock's return is greater than or equal to zero, its performance will be equal to the return cap, which is expected to be 7% to 9% and will be set at pricing. Otherwise, its performance will be the greater of the stock return and negative 25%.

The payout at maturity will be par plus the final coupon payment, if any.

The notes (Cusip: 06741TCE5) are expected to price July 26 and settle July 31.

Barclays Capital Inc. is the agent.

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