By Jennifer Chiou
New York, Jan. 14 - Barclays Bank plc priced $3 million of 0% capped market plus notes due Feb. 16, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the barrier level - 68% 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 0%.
Otherwise, the payout will be par plus the index return, with exposure to losses.
In either case, the payout will be capped at 20%.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Capped market plus notes
|
| Underlying index: | S&P 500
|
| Amount: | $3 million
|
| Maturity: | Feb. 16, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index stays at or above barrier level, par plus any gain with floor of 0%; otherwise par plus return, with exposure to losses; payout capped at 20% in either case
|
| Initial index level: | 1,285.96
|
| Pricing date: | Jan. 12
|
| Settlement date: | Jan. 18
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06741JBV0
|
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