By Angela McDaniels
Tacoma, Wash., April 29 - Barclays Bank plc priced $26.06 million of 0% trigger autocallable optimization securities due April 30, 2012 linked to the American Depositary Shares of Rio Tinto plc, according to a 424B2 filing with the Securities and Exchange Commission.
If Rio Tinto ADSs close at or above the initial ADS price on any of 12 monthly observation dates, the notes will be called at par of $10 plus an annualized call return of 17.94%.
The payout at maturity will be par if Rio Tinto ADSs finish at or above 80% of the initial ADS price. Otherwise, investors will be exposed to the decline from the initial ADS price to the final ADS price.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable optimization securities
|
| Underlying ADSs: | Rio Tinto plc (Symbol: RIO)
|
| Amount: | $26,058,010
|
| Maturity: | April 30, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Rio Tinto ADSs finish at or above trigger price, par; otherwise, par plus ADS return
|
| Call: | At par plus premium of 17.94% per year if Rio Tinto ADSs close at or above initial ADS price on any of 12 monthly observation dates
|
| Initial ADS price: | $73.30
|
| Trigger price: | $58.64, 80% of initial price
|
| Pricing date: | April 27
|
| Settlement date: | April 29
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1.25%
|
| Cusip: | 06741K668
|
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