By Angela McDaniels
Tacoma, Wash., July 1 - Barclays Bank plc priced $2.05 million of 0% knock-out digital Super Track notes due Jan. 5, 2012 linked to Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the closing level of the index remains at or above the knock-out barrier - 70% of the initial level - throughout the life of the notes, the payout at maturity will be par plus 23%.
If the index ever closes below the knock-out barrier, the payout at maturity will be par plus the index return, subject to a maximum return of 23%. Investors will be exposed to any index decline.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Knock-out digital Super Track notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2.05 million
|
| Maturity: | Jan. 5, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 23% if index remains at or above knock-out barrier throughout life of notes; otherwise, par plus index return, up to maximum return of 23% if return is positive
|
| Initial index level: | 609.49
|
| Knock-out barrier: | 426.64, 70% of initial level
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.3%
|
| Cusip: | 06740PCA2
|
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