By Jennifer Chiou
New York, Jan. 20 - Barclays Bank plc priced $1.69 million of 0% trigger autocallable optimization securities due Jan. 25, 2016 linked to the Oil Service Holdrs Trust, according to a 424B2 with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus an annualized call return of 10.3% if the closing price of the trust's depositary receipts is greater than or equal to the initial price on any of 17 quarterly observation dates, which begin in January 2012.
If the notes are not called and the final depositary receipt price is greater than or equal to 60% of the initial price, the payout at maturity will be par. Otherwise, the payout will be par plus the trust return.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable optimization securities
|
| Underlying equity: | Oil Service Holdrs Trust
|
| Amount: | $1,692,800
|
| Maturity: | Jan. 25, 2016
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final price is greater than or equal to trigger price, par; otherwise, par plus return
|
| Call: | At par plus annualized call premium of 10.3% if the closing price of the trust's depositary receipts is greater than or equal to the initial price on any observation date
|
| Initial price: | $147.54
|
| Trigger price: | $88.52, 60% of initial price
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 21
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06740P593
|
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