By Jennifer Chiou
New York, March 15 - Barclays Bank plc priced $20,000,013 of 1.9% annualized Yield Enhanced Equity Linked Debt Securities due Sept. 20, 2012 linked to the common stock of Hewlett-Packard Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $24.48, which is the average execution price per share for the common stock that an affiliate of Barclays paid to hedge the issuer's obligations under the notes.
Interest is payable monthly.
A trigger event will occur if the intraday lowest price of the stock is less than 80% of the initial level.
The payout at maturity will be an amount equal to the volume-weighted average price of Hewlett-Packard stock on Sept. 13, 2012. The payout will be capped at 120% of par and is payable in cash or Hewlett-Packard stock at the issuer's option.
If a trigger event has not occurred and the conversion value is less than the principal amount per note, investors will receive par.
The volume-weighted average price of Hewlett-Packard stock will be adjusted if the actual aggregate dividend and the expected aggregate dividend differ. The expected dividend schedule is $0.12 on June 11 and $0.12 on Sept. 10.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield Enhanced Equity Linked Debt Securities
|
| Underlying stock: | Hewlett-Packard Co. (NYSE: HP)
|
| Amount: | $20,000,013.12
|
| Maturity: | Sept. 20, 2012
|
| Coupon: | 1.9%, payable monthly
|
| Price: | Par of $24.48
|
| Payout at maturity: | Lesser of volume-weighted average price of Hewlett-Packard stock on Sept. 13, 2012 and equity cap price, payable in cash or stock, provided that if trigger event has not occurred and conversion value is less than the principal amount per note, investors will receive par
|
| Initial share price: | $24.48
|
| Equity cap price: | $29.376, 120% of initial share price
|
| Pricing date: | March 13
|
| Settlement date: | March 20
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06741L229
|
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