By Jennifer Chiou
New York, March 17 - Barclays Bank plc priced $15.1 million of 11% annualized yield optimization notes with contingent protection due Sept. 21, 2010 linked to the common stock of Weatherford International Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $17.22, which was the closing price of Weatherford stock at pricing.
Interest is payable monthly.
If the stock finishes at or above 75% of the initial price, the payout at maturity will be par.
Otherwise, investors will receive one Weatherford share per note.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Weatherford International Ltd. (NYSE: WFT)
|
| Amount: | $15,100,924.02
|
| Maturity: | Sept. 21, 2010
|
| Coupon: | 11%, payable monthly
|
| Price: | Par of $17.22
|
| Payout at maturity: | If Weatherford shares finish below the trigger price, one Weatherford share per note; otherwise, par
|
| Initial share price: | $17.22
|
| Trigger price: | $12.92, 75% of initial price
|
| Pricing date: | March 15
|
| Settlement date: | March 19
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1%
|
| Cusip: | 06740H369
|
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