By Angela McDaniels
Tacoma, Wash., Oct. 18 - Barclays Bank plc priced $8 million of 0% capped market plus notes due Oct. 25, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the barrier level - 77% of the initial level - on each day during the life of the notes, the payout at maturity will be par plus the greater of the index return and 5%.
Otherwise, the payout will be par plus the index return with exposure to losses.
In each case, the payout is subject to a maximum return of 20%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Capped market plus notes
|
| Underlying index: | S&P 500
|
| Amount: | $8 million
|
| Maturity: | Oct. 25, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index stays at or above 77% of initial level throughout life of notes, par plus greater of index return and 5%; otherwise par plus return with exposure to losses; return capped at 20% in each case
|
| Initial index level: | 1,173.81
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 19
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 06740P2R6
|
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