By Jennifer Chiou
New York, Sept. 20 - Barclays Bank plc priced $5.43 million of 8.8% yield optimization notes with contingent protection due Sept. 22, 2011 linked to the common stock of Weatherford International Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Each note has a face value of $16.37, which is equal to the closing price of Weatherford stock on the pricing date.
The payout at maturity will be par unless the final price of Weatherford stock is less than 75% of the initial share price, in which case the payout will be one share of Weatherford stock.
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. (Symbol: WFT)
|
| Amount: | $5,432,204.43
|
| Maturity: | Sept. 22, 2011
|
| Coupon: | 8.8%, payable monthly
|
| Price: | Par of $16.37
|
| Payout at maturity: | If final share price is less than trigger price, one Weatherford share; otherwise, par
|
| Initial share price: | $16.37
|
| Trigger price: | $12.28, 75% of initial price
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 21
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2%
|
| Cusip: | 06740L196
|
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