By Angela McDaniels
Tacoma, Wash., Nov. 19 - Barclays Bank plc priced $90.74 million of 0% autocallable index knock-out buffer notes due Aug. 27, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.
If the index closes at or above 107% of its initial level on any review date, the notes will be automatically called at 107% of par. The review dates are the second business day of each week.
If the notes are not called and the index declines by more than 15% during the life of the notes, the payout at maturity will be par plus the index return. Otherwise, the payout will be par plus the greater of the index return and 6.23%.
In both cases, the payout at maturity will be subject to a maximum return of 7%.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable index knock-out buffer notes
|
| Underlying index: | S&P 500
|
| Amount: | $90,738,000
|
| Maturity: | Aug. 27, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index declines by more than 15% during life of notes, par plus index return; otherwise, par plus greater of index return and 6.23%; return capped at 7% in each case
|
| Call: | Automatically at 107% of par if index closes at or above 107% of initial level on the second business day of any week
|
| Initial index level: | 1,109.8
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 23
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
|
| Fees: | 0.75%
|
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