By Jennifer Chiou
New York, Jan. 16 - Barclays Bank plc priced $500,000 of callable contingent coupon notes due Jan. 20, 2015 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay an annualized coupon of 7.51% each quarter if the closing price of Halliburton shares is at or above the 60% barrier level.
The notes are callable at par plus the contingent coupon on any of the quarterly contingent coupon payment dates.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the barrier level, in which case investors will receive a number of shares equal to the principal amount of notes divided by the initial share price or the cash value of those shares.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent coupon notes
|
| Underlying stock: | Halliburton Co. (Symbol: HAL)
|
| Amount: | $500,000
|
| Maturity: | Jan. 20, 2015
|
| Coupon: | 7.51% per year, payable quarterly if closing price of Halliburton shares is equal to or greater than barrier price
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than barrier price, in which case 27.307482 Halliburton shares or cash value of those shares
|
| Call option: | At par plus contingent coupon on any quarterly contingent coupon payment date
|
| Initial price: | $36.62
|
| Barrier price: | $21.97, 60% of initial price
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 17
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741JWL9
|
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