By Jennifer Chiou
New York, April 13 - Barclays Bank plc priced $3.5 million of 8.5% autocallable yield notes due Oct. 14, 2011 linked to the S&P 500 index and the United States Natural Gas Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each underlying component closes at or above its initial level on June 14 or Aug. 14.
If the notes are not called, the payout at maturity will be par unless either underlying component closes below 75% of its initial level during the life of the notes. In that case, the payout will be par plus the return of the worst-performing underlying component, subject to a maximum payout of par.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying components: | S&P 500 index and United States Natural Gas Fund, LP
|
| Amount: | $3.5 million
|
| Maturity: | Oct. 14, 2011
|
| Coupon: | 8.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either underlying component ever falls below knock-in barrier, par plus return of worst-performing underlying component, subject to maximum payout of par; otherwise, par
|
| Call: | At par if both underlying components close at or above initial levels on June 14 or Aug. 14
|
| Initial levels: | 1,324.46 for index and $10.78 for fund
|
| Knock-in barriers: | 993.35 for index and $8.09 for fund; 75% of initial levels
|
| Pricing date: | April 11
|
| Settlement date: | April 14
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.75%
|
| Cusip: | 06738KGW5
|
© 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.
