By Angela McDaniels
Tacoma, Wash., July 14 - Barclays Bank plc priced $6.5 million of Yield Enhanced Equity Linked Debt Securities due Jan. 24, 2011 linked to the common stock of Celanese Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $26.98, which is the average execution price per share for the common stock that an affiliate of Barclays paid to hedge the issuer's obligations under the notes.
The six-month notes carry an annualized coupon of 4.6%. Interest is payable monthly.
The payout at maturity will be an amount equal to the volume-weighted average price of Celanese stock on Jan. 14, 2011. The payout will be capped at 130% of par and is payable in stock or cash at Barclays' option.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield Enhanced Equity Linked Debt Securities
|
| Underlying stock: | Celanese Corp. (NYSE: CE)
|
| Amount: | $6,500,021.60
|
| Maturity: | Jan. 24, 2011
|
| Coupon: | 4.6%, payable monthly
|
| Price: | Par of $26.98
|
| Payout at maturity: | The lesser of the volume-weighted average price of Celanese stock on Jan. 14, 2011 and the equity cap price, payable in cash or stock
|
| Initial share price: | $26.98
|
| Equity cap price: | $35.074, 130% of initial share price
|
| Pricing date: | July 13
|
| Settlement date: | July 20
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06740L287
|
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