By Toni Weeks
San Diego, April 18 - Barclays Bank plc priced $420,000 of 9% autocallable yield notes due April 19, 2012 linked to the Russell 2000 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each underlying component closes at or above its initial level on any of three quarterly observation dates.
A trigger event will occur if either the fund or the index falls below the trigger level, 75% of the initial level, on any trading day.
If a trigger event does not occur, investors will receive par at maturity. If a trigger event occurs and the return of the worst-performing component is at least zero, investors will receive par.
If a trigger event occurs and the return of the worst-performing component is negative, investors will share in those losses.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Russell 2000 index and SPDR S&P Metals & Mining exchange-traded fund
|
| Amount: | $420,000
|
| Maturity: | April 19, 2012
|
| Coupon: | 9%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if a trigger event does not occur or if a trigger event occurs but the return of the worst-performing component is at least zero; full exposure to losses if a trigger event occurs and the return of the worst-performing component is negative
|
| Call: | At par if both underlying components close at or above initial levels on quarterly observation date
|
| Initial levels: | 834.99 for index and $72.50 for fund
|
| Knock-in barriers: | 626.24 for index and $54.38 for fund; 75% of initial levels
|
| Pricing date: | April 15
|
| Settlement date: | April 20
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.25%
|
| Cusip: | 06738KGU9
|
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