By Angela McDaniels
Tacoma, Wash., Oct. 28 - Barclays Bank plc priced $1 million of 12.5% autocallable yield notes due Oct. 31, 2012 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if each index closes at or above its initial level on any call valuation date. The call valuation dates fall on the fourth trading day immediately preceding each of the interest payment dates scheduled to occur on Jan. 31, April 30 and July 31, 2012.
The payout at maturity will be par unless either index closes below its trigger level - 60% of its initial level - during the life of the notes and the return of the worst-performing index is less than zero, in which case investors will receive par plus the return of the worst-performing index.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1 million
|
| Maturity: | Oct. 31, 2012
|
| Coupon: | 12.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either index closes below its trigger level during the life of the notes and the final return of the worst-performing index is less than zero, par plus the return of the worst-performing index; otherwise, par
|
| Call: | Automatically at par if each index closes at or above its initial level on any of three call valuation dates, which fall on the fourth trading day immediately preceding each of the interest payment dates scheduled to occur on Jan. 31, April 30 and July 31, 2012
|
| Initial index levels: | 1,242.00 for S&P 500 and 727.15 for Russell 2000
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06738KYE5
|
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