By Jennifer Chiou
New York, Jan. 10 - Barclays Bank plc priced $42.97 million of 0% capped market plus notes due July 13, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
If the index closes at or above the barrier level - 75% of the initial level - during the life of the notes, the payout at maturity will be par plus any index gain, with a minimum return of 4.5%.
Otherwise, the payout will be par plus the index return, with exposure to losses.
In either case, the payout will be capped at 30%.
Issuer: | Barclays Bank plc
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Issue: | Capped market plus notes
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Underlying index: | S&P 500
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Amount: | $42,973,000
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Maturity: | July 13, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index stays at or above barrier level, par plus any gain with floor of 4.5%; otherwise par plus return, with exposure to losses; payout capped at 30% in either case
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Initial index level: | 1,271.50
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Pricing date: | Jan. 7
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Settlement date: | Jan. 12
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 06740PZU3
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