By E. Janene Geiss
Philadelphia, Aug. 29 - Barclays Bank plc priced $14.45 million of 0% market-linked step-up notes due Aug. 23, 2013 linked to the Dow Jones Global Titans 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up value - 119.61% of the initial level - the payout at maturity will be par of $10 plus any index gain.
If the index finishes at or above the initial level but less than or equal to the step-up value, the payout at maturity will be par of $10 plus the step-up payment of $1.961 per note.
Investors are fully exposed to any decline in the index.
Bank of America Merrill Lynch is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Dow Jones Global Titans 50 index
|
| Amount: | $14,449,650
|
| Maturity: | Aug. 23, 2013
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above 119.61% of initial level, par plus index gain; if index gains but is less than or equal to step-up level, par plus 19.61%; exposure to any index decline
|
| Initial level: | 165.06
|
| Step up level: | 197.43, 119.61% of initial level
|
| Pricing date: | Aug. 25
|
| Settlement date: | Sept. 2
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06741L401
|
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