By Susanna Moon
Chicago, March 3 - Barclays Bank plc priced $29.18 million of 0% buffered return enhanced notes due March 13, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.
If the final index level is at least the initial level, the payout at maturity will be par plus double any gain on the index, capped at a payout equal to 114.8% of par.
If the index declines up to 10%, the payout will be par. Investors will lose 1.1111% for every 1% the index declines beyond 10%.
The final index level will be arithmetic average of the index's closing levels on the five trading days ending on March 10, 2009.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $29.18 million
|
| Maturity: | March 13, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any index gain, capped at maximum return of 14.8%; par if index falls by 10% or less; 1.1111% loss for each 1% decline beyond 10%
|
| Initial index level: | 1,330.63
|
| Final index level: | Average of the index's closing levels on the five trading days ending March 10, 2009
|
| Pricing date: | Feb. 29
|
| Settlement date: | March 5
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
|
| Fees: | 1%
|
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