By Angela McDaniels
Tacoma, Wash., Sept. 29 - Barclays Bank plc priced $44.73 million of 0% autocallable optimization securities with contingent protection due Oct. 1, 2010 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
The notes will be automatically called if the exchange-traded fund's shares close at or above the initial share price on any of 12 monthly observation dates. The redemption amount will be par of $10 plus an annualized call return of 17.5%.
If the notes are not called and the final share price is greater than or equal to the trigger price - 75% of the initial price - the payout at maturity will be par. If the final share price is less than the trigger price, investors will receive par plus the fund return.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable optimization securities with contingent protection
|
| Underlying ETF: | Energy Select Sector SPDR fund
|
| Amount: | $44,727,740
|
| Maturity: | Oct. 1, 2010
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par if final share price is greater than or equal to trigger level; otherwise, par plus fund return
|
| Call: | Automatically if fund's shares close at or above initial share price on a monthly observation date; payout will be par plus annualized call return of 17.5%
|
| Initial share price: | $53.55
|
| Trigger price: | $40.16, 75% of initial share price
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1.25%
|
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