By Jennifer Chiou
New York, March 17 - Barclays Bank plc priced $10.97 million of 9% annualized yield optimization notes with contingent protection due Sept. 21, 2010 linked to the common stock of Dow Chemical Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $30.00, which was the closing price of Dow Chemical stock at pricing.
Interest is payable monthly.
If the stock finishes at or above 75% of the initial price, the payout at maturity will be par.
Otherwise, investors will receive one Dow Chemical share per note.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Dow Chemical Co. (NYSE: DOW)
|
| Amount: | $10,967,340
|
| Maturity: | Sept. 21, 2010
|
| Coupon: | 9%, payable monthly
|
| Price: | Par of $30.00
|
| Payout at maturity: | If Dow Chemical shares finish below the trigger price, one Dow Chemical share per note; otherwise, par
|
| Initial share price: | $30.00
|
| Trigger price: | $22.50, 75% of initial price
|
| Pricing date: | March 15
|
| Settlement date: | March 19
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1%
|
| Cusip: | 06740H351
|
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