By Jennifer Chiou
New York, June 14 - Barclays Bank plc priced another $4 million of callable range accrual notes due June 30, 2025 linked to six-month Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total issue amount to $6 million.
Interest is payable quarterly and equals 9% multiplied by the proportion of days on which six-month Libor is 7% or less and the S&P 500 closes at or above 895.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning on June 30, 2011.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable range accrual notes
|
| Amount: | $6 million (up from $2 million)
|
| Maturity: | June 30, 2025
|
| Coupon: | 9% multiplied by proportion of days on which six-month Libor is 7% or less and S&P 500 closes at or above 895; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from June 30, 2011 onwards
|
| Pricing date: | June 11 for $2 million; June 25 for $4 million
|
| Settlement date: | June 30
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3%
|
| Cusip: | 06740PAH9
|
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