By Jennifer Chiou
New York, June 19 - Barclays Bank plc priced $2.94 million of 12.4% callable yield notes due March 5, 2014 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be callable at par on any interest payment date.
If the final share price is at least 70% of the initial share price, the payout at maturity will be par. If the final share price is less than 70% of the initial share price, the payout will be either (a) par minus 1% for every 1% that the share price declines from the initial share price or (b) a number of Freeport-McMoRan shares equal to $1,000 divided by the initial share price, at the issuer's option.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable yield notes
|
| Underlying stock: | Freeport-McMoRan Copper & Gold Inc. (Symbol: FCX)
|
| Amount: | $2.94 million
|
| Maturity: | March 5, 2014
|
| Coupon: | 12.4%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par if the final share price is at least 70% of the initial share price; otherwise, either (a) par minus 1% for every 1% that the share price declines from the initial share price or (b) a number of Freeport-McMoRan shares equal to $1,000 divided by the initial share price, at the issuer's option
|
| Call: | At par on any interest payment date
|
| Initial price: | $35.67
|
| Knock-in barrier: | $24.97, 70% of initial price
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.5%
|
| Cusip: | 06741JN96
|
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