By Susanna Moon
Chicago, April 1 - Barclays Bank plc priced $2.48 million of callable contingent quarterly payment notes due April 2, 2018 linked to the Russell 2000 index and the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay at a contingent quarterly rate of 7.6% annualized if the lowest-performing component closes at or above its 65% barrier level on the valuation date for that quarter.
The notes are callable at par on any quarterly contingent payment date after one year.
The payout at maturity will be par unless the lowest performing component finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the lowest performing component.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable contingent quarterly payment notes
|
| Underlying components: | Russell 2000 index and iShares MSCI EAFE index fund
|
| Amount: | $2.48 million
|
| Maturity: | April 2, 2018
|
| Coupon: | 7.6% per year, payable quarterly if lowest-performing component closes at or above coupon barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final level of lowest-performing component is greater than or equal to barrier level, par; otherwise, full exposure to decline of lowest-performing component
|
| Call option: | At par on any quarterly contingent payment date beginning April 3, 2014
|
| Initial levels: | 943.92 for Russell and $58.85 for MSCI EAFE
|
| Coupon barrier: | 613.55 for Russell and $38.25 for MSCI EAFE; 65% of initial levels
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| Barrier levels: | 566.35 for Russell and $35.31 for MSCI EAFE; 60% of initial levels
|
| Pricing date: | March 27
|
| Settlement date: | April 2
|
| Underwriter: | Barclays
|
| Fees: | 1.8%
|
| Cusip: | 06741TRM1
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