By E. Janene Geiss
Philadelphia, June 29 - Barclays Bank plc priced $1 million 0% Knock-Out Buffered Super Track Notes due June 29, 2010 linked to the common stock of Chesapeake Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Chesapeake Energy stock closes above the knock-out barrier - 140% of the initial share price - on any day during the life of the notes, the payout at maturity will be par plus 14%.
Otherwise, the payout will be:
• Par plus any share price gain;
• Par if the share price declines by 20% or less; or
• Par minus 1% for every 1% decline beyond 20% or, at Barclays' option, a number of Chesapeake Energy shares with an equivalent value.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Knock-Out Buffered Super Track Notes
|
| Underlying stock: | Chesapeake Energy Corp. (Symbol: CHK)
|
| Amount: | $1 million
|
| Maturity: | June 29, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If Chesapeake Energy stock closes above the knock-out barrier during the life of the notes, par plus 14%; otherwise, par plus any share price gain, par if the share price falls by 20% or less or par minus 1% for every 1% decline beyond 20% (or a number of shares with an equivalent value)
|
| Initial share price: | $19.62
|
| Knock-out barrier: | $27.45, 140% of initial share price
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2%
|
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