By Angela McDaniels
Tacoma, Wash., Dec. 1 - Barclays Bank plc priced $100 million of 8% Yield Enhanced Equity Linked Debt Securities due Dec. 14, 2011 linked to the common stock of Weatherford International Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
Each note has a face value of $20.45, which is the average execution price per share for the common stock that an affiliate of Barclays paid to hedge the issuer's obligations under the notes.
The payout at maturity will be an amount equal to the closing price of Weatherford stock on Dec. 8, 2011. The payout will be capped at 119.15% of par and is payable in cash or Weatherford stock at each holder's option.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield Enhanced Equity Linked Debt Securities
|
| Underlying stock: | Weatherford International Ltd. (NYSE: WFT)
|
| Amount: | $100,000,500
|
| Maturity: | Dec. 14, 2011
|
| Coupon: | 8%, payable quarterly
|
| Price: | Par of $20.45
|
| Payout at maturity: | Lesser of closing price of Weatherford stock on Dec. 8, 2011 and equity cap price, payable in cash or stock
|
| Initial share price: | $20.45
|
| Equity cap price: | $24.36618, 119.15% of initial price
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 7
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06740P692
|
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