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Barclays plans contingent accrual notes on six-month Libor, S&P 500
By Marisa Wong
Madison, Wis., June 7 - Barclays Bank plc plans to price callable contingent accrual notes due June 18, 2027 linked to six-month Libor and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will accrue at an annualized rate of 7% for each day that six-month Libor is 6% or less and the closing level of the S&P 500 is greater than or equal to the barrier, which will be 950 to 995 and set at pricing. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable on any interest payment date beginning on June 18, 2013.
The notes (Cusip: 06741TAZ0) will settle on June 18.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
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