By Jennifer Chiou
New York, Aug. 20 - Barclays Bank plc priced $6,221,650 of contingent income autocallable securities due Aug. 22, 2014 linked to Caterpillar, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 1.84%, equivalent to 7.36% per year, if Caterpillar stock closes at or above the 80% downside threshold level on the determination date for that quarter.
If the stock closes at or above the initial share price on any of the first three quarterly determination dates, the notes will be redeemed at par of $10 plus the contingent payment.
If the notes are not called, the payout at maturity will be par plus the contingent payment unless the stock finishes below the 80% downside threshold level, in which case the payout will be a number of Caterpillar shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.
Barclays is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Caterpillar, Inc. (NYSE: CAT)
|
| Amount: | $6,221,650
|
| Maturity: | Aug. 22, 2014
|
| Contingent coupon: | 1.84% (7.36% per year), payable quarterly if Caterpillar stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus contingent payment; otherwise, 0.11743 Caterpillar shares or, at issuer's option, cash amount equal to value of those shares
|
| Call: | At par plus contingent payment if closing share price is greater than or equal to initial level on any of first three quarterly determination dates
|
| Initial share price: | $85.16
|
| Downside threshold level: | $68.13, 80% of initial share price
|
| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 21
|
| Agent: | Barclays
|
| Dealer: | Morgan Stanley Smith Barney LLC
|
| Fees: | 1.5%
|
| Cusip: | 06742D366
|
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