New Issue: Barclays prices $8.82 million callable contingent payment notes on S&P, Russell

By Marisa Wong

Madison, Wis., March 21 - Barclays Bank plc priced $8.82 million of callable contingent payment notes due June 24, 2015 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent coupon at an annualized rate of 5.1% for each quarter that both components close above the 65% coupon barrier level on a quarterly valuation date.

The notes are callable at par plus the contingent coupon on any interest payment date.

The payout at maturity will be par unless either component finishes below the 65% barrier level, in which case investors will be fully exposed to any losses of the worse performing component.

Barclays is the agent.

Issuer:	Barclays Bank plc
Issue:	Callable contingent payment notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$8,823,000
Maturity:	June 24, 2015
Coupon:	5.1% per year, payable quarterly if both components close above coupon barrier level on a quarterly valuation date
Price:	Par
Payout at maturity:	Par unless either component finishes below barrier level, in which case full exposure to any losses of worse performing component
Call option:	At par on any quarterly contingent payment date
Initial index levels:	1,860.77 for S&P 500, 1,195.66 for Russell 2000
Barrier levels:	1,209.50 for S&P 500, 777.18 for Russell 2000; 65% of initial levels
Pricing date:	March 19
Settlement date:	March 24
Agent:	Barclays
Fees:	1.25%
Cusip:	06741UAP9

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