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Barclays to price 12% callable yield notes linked to Michael Kors
By Susanna Moon
Chicago, Feb. 4 - Barclays Bank plc plans to price callable yield notes due Aug. 13, 2014 linked to Michael Kors Holdings Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be at least 12%, with the exact rate to be set at pricing. Interest is payable quarterly.
The notes are callable at par on any interest payment date beginning in May 2013.
The payout at maturity will be par unless Michael Kors shares finish below the 55% knock-in level, in which case investors will be fully exposed to any losses.
The exact deal terms will be set at pricing.
Barclays is the agent.
The notes will price on Feb. 8 and settle on Feb. 13.
The Cusip number is 06741JXB0.
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