By Toni Weeks
San Luis Obispo, Calif., Jan. 15 - Barclays Bank plc priced $1.97 million of callable contingent coupon notes due Jan. 19, 2016 linked to Ford Motor Co. 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 9.1% if Ford shares close at or above the 75% barrier level on the valuation date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date.
If the notes are not called and the final share price is greater than or equal to the 75% barrier price, 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 Ford shares equal to $1,000 divided by the initial share price.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying stock: | Ford Motor Co. (Symbol: F)
|
| Amount: | $1.97 million
|
| Maturity: | Jan. 19, 2016
|
| Coupon: | 9.1% per year (2.275% per quarter), payable quarterly if Ford shares close at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par if final share price is greater than or equal to barrier price; otherwise, exposure to share price decline or, at Barclays' option, 62.07325 Ford shares
|
| Call option: | At par plus contingent coupon, if any, on any interest payment date
|
| Initial share price: | $16.11
|
| Barrier price: | $12.08, 75% of initial share price
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 16
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 06741J5Z8
|
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