Published on 11/1/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $295,000 11.5% autocallable yield notes on indexes, fund
By Marisa Wong
Madison, Wis., Nov. 1 - Barclays Bank plc priced $295,000 of 11.5% autocallable yield notes due Nov. 1, 2012 linked to the S&P 500 index, the Russell 2000 index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if both indexes and the fund close above their initial level on any of three call valuation dates. The call valuation dates are four business days before the interest payment dates in February, May and August.
The payout at maturity will be par unless any underlying component closes below 60% of its initial level during the life of the notes, in which case the payout will be par plus the return of the worst-performing underlying component, up to a maximum payout of par.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying components: | S&P 500 index, Russell 2000 index and United States Oil Fund, LP
|
| Amount: | $295,000
|
| Maturity: | Nov. 1, 2012
|
| Coupon: | 11.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any component falls to or below knock-in barrier, in which case par plus return of worst-performing component, maximum payment of par
|
| Initial levels: | 1,285.08 for S&P, 761.00 for Russell, $36.03 for fund
|
| Knock-in levels: | 771.05 for S&P, 456.60 for Russell, $21.62 for fund; 60% of initial levels
|
| Call: | At par if indexes and fund close above initial levels on valuation dates four days before interest payment dates in February, May and August
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 2
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.25%
|
| Cusip: | 06738KYN5
|
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