By Susanna Moon
Chicago, Aug. 9 - Barclays Bank plc priced $6.99 million of 0% capped market plus notes due Aug. 16, 2012 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of gold remains at or above 90% of the initial price during the life of the notes, the payout at maturity will be par plus the greater of the gold return and 8.02%.
Otherwise, the payout will be par plus the gold return with exposure to losses.
In either case, the maximum return at maturity will be 10%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Capped market plus notes
|
| Underlying commodity: | Gold
|
| Amount: | $6.99 million
|
| Maturity: | Aug. 16, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If gold price stays at 90% of initial price or above, par plus greater of gold return and 8.02%; otherwise, par plus gold return; any gains capped at 10%
|
| Initial price: | $1,658.75
|
| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 10
|
| Agent: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 06738KQY0
|
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