By Susanna Moon
Chicago, Sept. 1 - Barclays Bank plc priced $500,000 of callable range accrual notes due Sept. 29, 2025 linked to six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 8% for each day that six-month Libor is 7% or less and the S&P 500 closes at or above 875. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning on Sept. 29, 2011.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Callable range accrual notes
|
| Amount: | $500,000
|
| Maturity: | Sept. 29, 2025
|
| Coupon: | 8% for each day that six-month Libor is 7% or less and S&P 500 closes at or above 875; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Sept. 29, 2011
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 29
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 4%
|
| Cusip: | 06740PQA7
|
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