By Jennifer Chiou
New York, March 14 - Barclays Bank plc priced $1.39 million of 0% autocallable notes due Sept. 21, 2011 linked to palladium, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of palladium closes at or above the initial price on any day from and including June 13 to and including Sept. 16, 2011, the notes will be called at par plus a call premium of 6.75%.
If the notes are not called and the final price is greater than or equal to 88% of the initial price, the payout at maturity will be par. Otherwise, investors will share fully in losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the lead agents with Barclays Capital Inc.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying commodity: | Palladium
|
| Amount: | $1.39 million
|
| Maturity: | Sept. 21, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final price of palladium is at least 88% of starting price; otherwise, full exposure to price decline
|
| Call: | Automatically at par plus call premium of 6.75% if price of palladium is greater than or equal to the starting price on any day from June 13 through Sept. 16
|
| Initial palladium price: | $754 per troy ounce
|
| Pricing date: | March 11
|
| Settlement date: | March 16
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA (leads); Barclays Capital Inc.
|
| Fees: | 0.5%
|
| Cusip: | 06738KED9
|
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