By Jennifer Chiou
New York, June 26 - Barclays Bank plc priced $2 million of zero-coupon 100% principal-protected notes due July 8, 2014 linked to institutional-class shares of the Pimco High Yield fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final adjusted fund level is greater than the initial level, the payout at maturity will be par plus 107% of the gain. Otherwise, the payout will be par.
The final adjusted fund level will equal the average of the adjusted fund levels on the last business day in June of each year.
The adjusted fund level on the pricing date was set at 1. On each subsequent date, it will equal the adjusted fund level on the previous day multiplied by the sum of the per-share net asset value of the fund on that day plus any dividends paid divided by the net asset value for the previous day.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | 100% principal-protected notes
|
| Underlying fund: | Pimco High Yield fund
|
| Amount: | $2 million
|
| Maturity: | July 8, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 107% of any fund gain; otherwise par
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
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