By Jennifer Chiou
New York, Dec. 20 - Barclays Bank plc priced another $4.95 million of fixed-rate callable range accrual notes due to Dec. 22, 2025, adding to the original $3 million of notes, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will accrue at 8% for each day that six-month Libor is at or below 6.5% and the S&P 500 closes at or above 875, up to a maximum rate of 8%. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Dec. 22, 2011.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Fixed-rate callable range accrual notes
|
| Amount: | $7.95 million (up from $3 million)
|
| Maturity: | Dec. 22, 2025
|
| Coupon: | 8% for each day that six-month Libor is at or below 6.5% and index closes at or above 875, capped at 8%; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates after one year
|
| Pricing date: | Nov. 17 for original $3 million; Dec. 17 for add-on
|
| Settlement date: | Dec. 22
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3%
|
| Cusip: | 06740PN85
|
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