By Marisa Wong
Madison, Wis., May 22 - Barclays Bank plc priced $360,000 of 9.5% autocallable yield notes due May 23, 2013 linked to the United States Oil Fund, LP and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if each underlying component closes at or above its initial level on any of three call valuation dates, which are Aug. 17, Nov. 16 and Feb. 19, 2013.
A knock-in event will occur if either underlying component falls below the barrier level, 75% of the initial level, on any trading day during the life of the notes.
If a knock-in event does not occur, investors will receive par at maturity. If a knock-in event occurs and the return of the worse-performing component is at least zero, investors will receive par.
If a knock-in event occurs and the return of the worse-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 funds: | United States Oil Fund, LP and Energy Select Sector SPDR fund
|
| Amount: | $360,000
|
| Maturity: | May 23, 2013
|
| Coupon: | 9.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either component falls below barrier level during life of notes and final return of worse-performing component is negative, in which case full exposure to losses
|
| Call: | Automatically at par plus accrued interest if each underlying component closes at or above its initial level on Aug. 17, Nov. 16 or Feb. 19, 2013
|
| Initial prices: | $34.43 for U.S. Oil, $63.93 for Energy Select
|
| Knock-in barriers: | $25.82 for U.S. Oil, $47.95 for Energy Select; 75% of initial prices
|
| Pricing date: | May 18
|
| Settlement date: | May 23
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.75%
|
| Cusip: | 06738K5N7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
