By Jennifer Chiou
New York, Jan. 20 - Barclays Bank plc priced $2.77 million of 9.25% yield optimization notes with contingent protection due Jan. 31, 2012 linked to the American depositary shares of ING Group NV, according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $9.60, which was the closing price of ING Group ADSs at pricing.
Interest is payable monthly.
If the ADSs finish at or above 65% of the initial price, the payout at maturity will be par.
Otherwise, investors will receive one ING Group ADS per note.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying ADS: | ING Group NV (NYSE: ING)
|
| Amount: | $2,769,052.80
|
| Maturity: | Jan. 31, 2012
|
| Coupon: | 9.25%, payable monthly
|
| Price: | Par of $9.60
|
| Payout at maturity: | If ING Group ADSs finish below the trigger price, one ING Group ADS per note; otherwise, par
|
| Initial ADS price: | $9.60
|
| Trigger price: | $6.24, 65% of initial price
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 29
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2.65%
|
| Cusip: | 06740H492
|
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