By Angela McDaniels
Tacoma, Wash., April 20 - Barclays Bank plc priced $3.07 million of 0% capped market plus notes due Oct. 27, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes below the barrier level - 75% of the initial level - on any day during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the index return and 10.4%.
In each case, the payout will be subject to a maximum return of 17.5%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Capped market plus notes
|
| Underlying index: | S&P 500
|
| Amount: | $3.07 million
|
| Maturity: | Oct. 27, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index closes below 75% of initial level during life of notes, par plus index return; otherwise, par plus greater of index return and 10.4%; return capped at 17.5% in each case
|
| Initial index level: | 1,192.13
|
| Pricing date: | April 16
|
| Settlement date: | April 21
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
|
| Fees: | 1.28%
|
| Cusip: | 06740LPD1
|
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