By Jennifer Chiou
New York, July 6 - Barclays Bank plc priced $2.92 million of 0% semiannual autocallable notes due Dec. 6, 2011 linked to the iShares Dow Jones U.S. Real Estate index fund, according to a 424B2 with the Securities and Exchange Commission.
If the ETF's shares close at or above the initial share price of any of the semiannual observation dates, the notes will be automatically called and investors will receive par plus an annualized call premium of 24.1%.
The observation dates are Dec. 1, 2010, July 1, 2011 and Dec. 1, 2011.
If the notes are not called and the final share price is at or above 75% of the initial price, the payout at maturity will be par. If the final share price is less than 75% of the initial price, investors will share in any losses.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Semiannual autocallable notes
|
| Underlying index fund: | iShares Dow Jones U.S. Real Estate index fund
|
| Amount: | $2,916,000
|
| Maturity: | Dec. 6, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final index fund level is at least 75% of initial level; otherwise, investors share in losses
|
| Call: | At par plus 24.1% per year if fund closes at or above initial level on Dec. 1, 2010, July 1, 2011 or Dec. 1, 2011
|
| Initial fund level: | $47.12
|
| Pricing date: | July 1
|
| Settlement date: | July 7
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 0.05%
|
| Cusip: | 06740PBV7
|
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