By Jennifer Chiou
New York, May 14 - Barclays Bank plc priced an $11.945 million offering of 0% buffered return enhanced notes due May 23, 2008 linked to the Dow Jones Euro Stoxx 50 index via placement agent J.P. Morgan Securities Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any percentage increase in the index level, subject to a maximum return of 15.6%. If the index declines by 10% or less, investors will receive par. Investors will lose 1.1111% for every 1% the index declines beyond 10%.
The payout will be determined using the average of the index's closing levels on May 14, May 15, May 16, May 19 and May 20 of 2008.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered return enhanced notes
|
| Underlying index: | Dow Jones Euro Stoxx 50
|
| Amount: | $11.945 million
|
| Maturity: | May 23, 2008
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any index gain, capped at 15.6%; par if the index declines up to 10%; investors will lose 1.1111% for every 1% the index declines beyond 10%
|
| Initial index level: | 4,423.07
|
| Pricing date: | May 11
|
| Settlement date: | May 16
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1%
|
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