By Jennifer Chiou
New York, Aug. 28 - Barclays Bank plc priced an $8.02 million issue of 0% performance securities with contingent protection due Aug. 30, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
If the index return is positive, investors will receive par of $10 plus 118.8% of the return.
If the final index level is less than the initial level, but the index never declines below the trigger amount - 50% of the initial level - during the life of the securities, the payout at maturity will be par.
If the index does fall below the trigger level and finishes below the initial level, the payout will be par plus the index return.
| Issuer: | Barclays Bank plc
|
| Issue: | Performance securities with contingent protection
|
| Underlying index: | S&P 500
|
| Amount: | $8,018,490
|
| Maturity: | Aug. 30, 2013
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 118.8% of any index gain; par if final index level is below initial level but index never closed below trigger level; otherwise, par minus index decline
|
| Initial index level: | 1,271.51
|
| Trigger level: | 635.76, 50% of initial index level
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 3.5%
|
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