By Angela McDaniels
Tacoma, Wash., March 30 - Barclays Bank plc priced $1.3 million of notes due April 2, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable annually. If the year-over-year change in the index is greater than or equal to zero, the coupon for that year will be 5.5%. Otherwise, the coupon for that year will be 1%.
If the final index level is at least 80% of the initial index level, the payout at maturity will be par. Investors will lose 1% for every 1% that the index declines beyond 20%.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Notes
|
| Underlying index: | S&P 500
|
| Amount: | $1.3 million
|
| Maturity: | April 2, 2014
|
| Coupon: | If year-over-year change in index is greater than or equal to zero, 5.5%; otherwise, 1%; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par if final index level is at least 80% of initial index level; 1% loss for every 1% that index declines beyond 20%
|
| Initial index level: | 1,310.19
|
| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.45%
|
| Cusip: | 06738KEL1
|
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