By Marisa Wong
Milwaukee, May 24 - Barclays Bank plc priced $2.5 million of zero-coupon non-principal-protected notes due May 28, 2013 linked to the Barclays Capital 30Y Treasury Futures index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are putable, and they will be called if the index closes above 135% of the initial level.
The payout at maturity or upon redemption will be par minus two times the index return, plus an additional amount and minus an investor fee.
The additional amount is the interest accrued on the principal amount at an annual rate equal to the weekly median discount rate for 28-day U.S. Treasury bills, compounded daily.
The investor fee will be 1.25% if the notes are called or put on or prior to May 25, 2011, 2.5% if the notes are called or put May 26, 2011 through May 25, 2012 and 3.75% thereafter.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Non-principal-protected notes
|
| Underlying index: | Barclays Capital 30Y Treasury Futures index
|
| Amount: | $2.5 million
|
| Maturity: | May 28, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par minus 200% of index return plus interest accrued at an annual rate equal to T-Bill rate, compounded daily, and minus an investor fee
|
| Call: | If index closes above 135% of initial level
|
| Put option: | At any time
|
| Investor fee: | 1.25% if notes are called or put on or prior to May 25, 2011, 2.5% if notes are called or put May 26, 2011 through May 25, 2012 and 3.75% thereafter
|
| Initial index level: | 180.3896
|
| Pricing date: | May 21
|
| Settlement date: | May 26
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.5%
|
| Cusip: | 06740LPF6
|
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