By Susanna Moon
Chicago, May 29 - Barclays Bank plc priced $14.82 million of 10.51% yield optimization notes with contingent protection due May 31, 2011 linked to Standard & Poor's Depositary Receipts, according to an FWP filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
Interest will be payable monthly.
The face amount of each note will be $12.99, or the closing price of one GE share at pricing.
If GE stock falls below 60% of the initial price, the payout at maturity will be one share per note. Otherwise, the payout will be par.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying security: | General Electric Co. (NYSE: GE)
|
| Amount: | $14,815,601.61
|
| Maturity: | May 31, 2011
|
| Coupon: | 10.51%, payable monthly
|
| Price: | Par of $12.99
|
| Payout at maturity: | Par in cash unless shares fall below the protection price and finish below the initial price, in which case one share per note
|
| Initial price: | $12.99
|
| Protection price: | $7.79, 60% of initial price
|
| Pricing date: | May 27
|
| Settlement date: | May 29
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2.75%
|
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