By Angela McDaniels
Tacoma, Wash., May 14 - Barclays Bank plc priced $6.51 million of 6% annualized yield optimization notes with contingent protection due Nov. 18, 2010 linked to Standard & Poor's Depositary Receipts, according to a 424B2 filing with the Securities and Exchange Commission.
The face value of each note is $117.47, which was the closing price of one SPDR on the pricing date.
Interest is payable monthly.
The payout at maturity will be par unless the final SPDR price is less than 80% of the initial SPDR price, in which case the payout will be one SPDR 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: | Standard & Poor's Depositary Receipts
|
| Amount: | $6,506,311
|
| Maturity: | Nov. 18, 2010
|
| Coupon: | 6%, payable monthly
|
| Price: | Par of $117.47
|
| Payout at maturity: | If final SPDR price is less than trigger price, one SPDR per note; otherwise, par
|
| Initial price: | $117.47
|
| Trigger price: | $93.98, 80% of initial price
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1%
|
| Cusip: | 06740L568
|
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