By E. Janene Geiss
Philadelphia, June 29 - Barclays Bank plc priced $90,000 of zero-coupon 100% principal-protected knock-out notes due June 28, 2012 linked to the performance of the S&P 500 index, according to a 424B filing with the Securities and Exchange Commission.
A knock-out event occurs if the index is ever above the knock-out barrier during the life of the notes. The knock-out barrier will be 117%.
If a knock-out event occurs, the payout at maturity will be par plus a knock-out rebate of 2%.
If a knock-out event does not occur and the final level is above the initial level, the payout will be par plus the index return. If a knock-out event does not occur and the return is less than or equal to zero, investors will receive par.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Principal protected knock-out notes
|
| Underlying stock: | S&P 500
|
| Amount: | $90,000
|
| Maturity: | June 28, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus a knock-out rebate of 2% if a knock-out event occurs; par plus the index return if a knock-out event does not occur and the final level is above the initial level; investors will receive at least par
|
| Initial price: | 1,076.76
|
| Knock-out barrier: | 1,259.81, 117% of the initial level
|
| Knock-out rebate: | 2%
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Agent: | Barclays Capital
|
| Fees: | 1.5%
|
| Cusip: | 06740LN84
|
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