A story in the Jan. 19 edition of the Prospect News Structured Products Daily incorrectly reported the issuer of these 0% quarterly autocallable notes due Jan. 31, 2012 linked to the price of copper. A corrected version follows.
By Marisa Wong
Madison, Wis., Jan. 19 - Barclays Bank plc priced $1.1 million of 0% quarterly autocallable notes due Jan. 31, 2012 linked to the price of copper, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized premium of 15% if the price of copper is greater than or equal to the initial price on April 13, July 13, Oct. 13, 2011 or Jan. 24, 2012.
If the notes are not called and the final copper price is greater than or equal to the protection price - 73% of the initial price - the payout at maturity will be par. If the final price is below the protection price, investors will receive par plus the copper return.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Quarterly autocallable notes
|
| Underlying commodity: | Copper
|
| Amount: | $1.1 million
|
| Maturity: | Jan. 31, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final copper price is 73% of initial price or more, par; if final price is less than protection price, par plus copper return
|
| Call: | Automatically at par plus annualized premium of 15% if copper price is greater than or equal to initial price on April 13, July 13, Oct. 13, 2011 or Jan. 24, 2012
|
| Initial copper price: | $9,622
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 21
|
| Agents: | Barclays Capital Inc.
|
| Fees: | 1%
|
| Cusip: | 06741JBR9
|
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