By Susanna Moon
Chicago, June 27 - Barclays Bank plc priced $2 million of 15.95% callable yield notes due Feb. 26, 2015 linked to United States Steel Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless the final price of U.S. Steel shares is less than the knock-in price, 80% of the initial price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable yield notes
|
| Underlying stock: | United States Steel Corp. (Symbol: X)
|
| Amount: | $2 million
|
| Maturity: | Feb. 26, 2015
|
| Coupon: | 15.95%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par, unless the final price of U.S. Steel shares is less than the knock-in price, in which case 57.60368 U.S. Steel shares
|
| Initial price: | $17.36
|
| Knock-in price: | $12.15, 70% of initial levels
|
| Call option: | At par on any interest payment date
|
| Pricing date: | June 24
|
| Settlement date: | June 27
|
| Agent: | Barclays
|
| Fees: | 0.5%
|
| Cusip: | 06741J3F4
|
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