Barclays plans callable contingent coupon notes tied to Valero Energy

By Susanna Moon

Chicago, April 13 – Barclays Bank plc plans to price callable contingent coupon notes due April 20, 2017 linked to Valero Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 12% if Valero Energy shares close above the 72% barrier level on the valuation date for that quarter.

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

The payout at maturity will be par unless Valero Energy shares finish below the 72% barrier level, in which case investors will be fully exposed to any losses.

Barclays is the agent.

The notes will price on April 14 and settle on April 17.

The Cusip number is 06741WAL4.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.