By Angela McDaniels
Tacoma, Wash., May 27 - Barclays Bank plc priced $1.77 million principal amount of 0% double short leverage securities due May 2, 2011 linked to the Barclays Capital 30Y Treasury Futures index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes priced at 102.6 for total proceeds of $1.82 million.
The notes are putable at any time, and they will be called if the index increases by more than 35%.
The payout at maturity or upon redemption will be par minus 200% of the index return plus an additional amount equal to the interest accrued on the principal amount at a rate per year equal to overnight Libor, compounded daily. The notes are not principal protected.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Double short leverage securities
|
| Underlying index: | Barclays Capital 30Y Treasury Futures index
|
| Amount: | $1,777,000
|
| Proceeds: | $1,823,202
|
| Maturity: | May 31, 2011
|
| Coupon: | 0%
|
| Price: | 102.6
|
| Payout at maturity: | Par minus 200% of the index return plus the interest accrued on the principal amount at an annual rate equal to overnight Libor, compounded daily
|
| Call: | If index increases by more than 35%
|
| Put option: | At any time
|
| Initial index level: | 180.9313
|
| Pricing date: | May 25
|
| Settlement date: | May 28
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2.6%
|
| Cusip: | 06740LAU9
|
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