By E. Janene Geiss
Philadelphia, Sept. 9 - Barclays Bank plc priced $1.91 million of 0% Knock-Out Buffered Notes due March 10, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Barclays Capital and J.P. Morgan Securities Inc. are the agents.
If the index closes below the knock-out barrier - 85% of the initial index level - on any day during the life of the notes, investors will be exposed to any decline.
If the knock-out event does not occur, the payout at maturity will be par plus the greater of any index return or 4.25%.
| Issuer: | Barclays Bank plc
|
| Issue: | Knock-Out Buffered Notes
|
| Underlying index: | S&P 500
|
| Amount: | $1.91 million
|
| Maturity: | March 10, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index closes below the knock-out barrier during the life of the notes, full exposure to any decline; otherwise, par plus the greater of any index gain or 4.25%
|
| Initial index level: | 1,003.24
|
| Knock-out buffer amount: | 15%
|
| Contingent minimum return: | 4.25%
|
| Pricing date: | Sept. 3
|
| Settlement date: | Sept. 9
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1%
|
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