By Marisa Wong
Madison, Wis., Feb. 22 - Barclays Bank plc priced $500,000 of callable contingent coupon notes due Feb. 25, 2015 linked to Federated Investors, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay an annualized coupon of 9% each quarter if the closing price of Federated Investors shares is equal to or greater than the coupon barrier price, 70% of the initial share price. Otherwise, holders will not receive the contingent interest payment for that quarter.
The notes are callable at par plus the contingent coupon, if any, on any coupon payment date.
The payout at maturity will be par if the final share price is greater than or equal to 70% of the initial share price. If the final share price is less than the barrier price, investors will receive a number of shares equal to the principal amount of notes divided by the initial share price or, at the issuer's option, the cash value of those shares.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying stock: | Federated Investors, Inc. (Symbol: FII)
|
| Amount: | $500,000
|
| Maturity: | Feb. 25, 2015
|
| Coupon: | 9% per year, payable quarterly if the closing price of Federated Investors stock is equal to or greater than coupon barrier price; otherwise, no coupon for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Federated Investors shares finish below 70% of initial share price, in which case 41.186162 shares of Federated Investors stock or cash equivalent at Barclays' option
|
| Call: | At par plus contingent coupon on any coupon payment date
|
| Initial share price: | $24.28
|
| Coupon barrier price: | $17.00, 70% of initial share price
|
| Pricing date: | Feb. 20
|
| Settlement date: | Feb. 25
|
| Underwriter: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741JXM6
|
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