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Barclays plans callable contingent coupon notes tied to salesforce.com
By Jennifer Chiou
New York, Aug. 14 – Barclays Bank plc plans to price callable contingent coupon notes due Aug. 18, 2016 linked to salesforce.com, inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon at an annualized rate of 11% for each quarter that salesforce.com shares close above the 67% 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 the salesforce.com shares finish below the 67% knock-in barrier level, in which case investors will be fully exposed to any losses.
The notes (Cusip: 06741JW21) will price on Aug. 15 and settle on Aug. 20.
Barclays is the agent.
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