By Angela McDaniels
Tacoma, Wash., May 26 - Barclays Bank plc priced $16 million of 12% annualized Yield Enhanced Equity Linked Debt Securities due Jan. 22, 2011 linked to the common stock of Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $35.84, 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.
The payout at maturity will an amount equal to the final share price, payable in stock or cash at Barclays' option and capped at 113.75% of par.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield Enhanced Equity Linked Debt Securities
|
| Underlying stock: | Qualcomm Inc. (Nasdaq: QCOM)
|
| Amount: | $16,000,015.36
|
| Maturity: | Jan. 22, 2011
|
| Coupon: | 12%, payable monthly
|
| Price: | Par of $35.84
|
| Payout at maturity: | Lesser of final share price and equity cap price, payable in cash or stock
|
| Initial price: | $35.84
|
| Equity cap price: | $40.768, 113.75% of initial price
|
| Pricing date: | May 24
|
| Settlement date: | June 1
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06740L436
|
© 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.
