By Angela McDaniels
Tacoma, Wash., Oct. 21 - Barclays Bank plc priced $15 million of Yield Enhanced Equity Linked Debt Securities due April 27, 2010 linked to the common stock of Celanese Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $26.83, which was the closing price of Celanese stock on the pricing date.
The six-month notes pay 2.875% for an annualized coupon of 5.75%. Interest is payable monthly.
The payout at maturity will be an amount equal to the volume-weighted average price of Celanese stock on April 20, 2010. The payout will be capped at 130% of par and is payable in stock or cash at Barclays' option.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield Enhanced Equity Linked Debt Securities
|
| Underlying stock: | Celanese Corp. (NYSE: CD)
|
| Amount: | $15,000,009
|
| Maturity: | April 27, 2010
|
| Coupon: | 5.75%, payable monthly
|
| Price: | Par of $26.83
|
| Payout at maturity: | The lesser of the volume-weighted average price of Celanese stock on April 20, 2010 and the equity cap price, payable in cash or stock
|
| Initial share price: | $26.83
|
| Equity cap price: | $34.879, 130% of initial share price
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 27
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
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