By Toni Weeks
San Diego, June 26 - Barclays Bank plc priced $2.49 million of 0% contingent buffered return enhanced notes due July 10, 2013 linked to Starbucks Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if Starbucks stock finishes below the 75% trigger level.
If a knock-out event fails to occur, the payout at maturity will be par plus the return, with a contingent minimum return of 6% and up to a maximum return of 20%.
Otherwise, investors will be fully exposed to the losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent buffered return enhanced notes
|
| Underlying stock: | Starbucks Corp. (Nasdaq: SBUX)
|
| Amount: | $2,485,000
|
| Maturity: | July 10, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above 75% trigger level, par plus stock return, with minimum return of 6% and maximum return of 20%; otherwise, full exposure to losses
|
| Initial share price: | $54.64
|
| Pricing date: | June 22
|
| Settlement date: | June 27
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 06741TBQ9
|
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