By Angela McDaniels
Tacoma, Wash., Sept. 8 - Barclays Bank plc priced $535,000 of 0% Buffered Super Track notes due Sept. 8, 2011 linked to shares of the KBW Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The ETF is designed to replicate the performance of the KBW Bank index, which is a float-adjusted modified-market capitalization-weighted index of geographically diverse companies representing national money center banks and regional banking institutions listed on U.S. stock markets.
The payout at maturity will be par plus 110% of any increase in the ETF's share price. Investors will receive par if the share price declines by 15% or less and will lose 1% for each 1% decline beyond 15%.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered Super Track notes
|
| Underlying ETF: | KBW Bank ETF
|
| Amount: | $535,000
|
| Maturity: | Sept. 8, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 110% of any share price gain; par if share price declines by 15% or less; 1% loss for each 1% decline beyond 15%
|
| Initial share price: | $34.20
|
| Pricing date: | Sept. 5
|
| Settlement date: | Sept. 10
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.75%
|
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