By Marisa Wong
Madison, Wis., July 1 - Barclays Bank plc priced $1.25 million of callable range accrual notes due July 28, 2025 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals 8% multiplied by the proportion of days on which six-month Libor is 7% or less and the S&P 500 closes at or above 825.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning on July 28, 2011.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable range accrual notes
|
| Amount: | $1.25 million
|
| Maturity: | July 28, 2025
|
| Coupon: | 8% multiplied by proportion of days on which six-month Libor is 7% or less and S&P 500 closes at or above 825; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning July 28, 2011
|
| Pricing date: | June 30
|
| Settlement date: | July 28
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3%
|
| Cusip: | 06740PCE4
|
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