By Jennifer Chiou
New York, Feb. 13 - Barclays Bank plc priced $2,919,000 of 12.5% callable yield notes due Aug. 13, 2014 linked to the common stock of Michael Kors Holdings Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
A knock-in event occurs if the final share price is less than the knock-in barrier - 55% of the initial price.
If a knock-in event does not occur, the payout will be par.
If a knock-in event occurs, investors will receive a number of shares equal to the principal amount of notes divided by the initial share price or the cash value of those shares.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable yield notes
|
| Underlying stock: | Michael Kors Holdings Ltd. (Symbol: KORS)
|
| Amount: | $2,919,000
|
| Maturity: | Aug. 13, 2014
|
| Coupon: | 12.5%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless Michael Kors shares finish below knock-in barrier, in which case 17.513135 Michael Kors shares or cash value of those shares
|
| Call option: | At par on any interest payment date
|
| Initial price: | $57.10
|
| Knock-in barrier: | $31.41, 55% of initial price
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 13
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741JXB0
|
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