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Barclays plans callable contingent coupon notes linked to Facebook
By Marisa Wong
Madison, Wis., Nov. 12 - Barclays Bank plc plans to price callable contingent coupon notes due May 26, 2016 linked to Facebook, 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 12.5% if Facebook shares close at or above the 65% barrier level on the valuation date for that quarter. The exact contingent quarterly coupon will be set at pricing.
The notes are callable at par plus the contingent coupon on any interest payment date after one year.
If the notes are not called and the final share price is greater than or equal to the 65% knock-in barrier level, the payout at maturity will be par.
Otherwise, investors will be exposed to any losses or, at Barclays' option, they will receive a number of Facebook shares equal to $1,000 divided by the initial share price.
Barclays is the agent.
The notes will price on Nov. 22 and settle on Nov. 27.
The Cusip number is 06741J5C9.
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