By Susanna Moon
Chicago, May 31 - Barclays Bank plc priced $4.52 million of 0% trigger autocallable optimization securities due June 8, 2012 linked to corn futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call return of 24.5% if the price of corn futures closes at or above the initial price on any quarterly observation date.
The payout at maturity will be par if the price of corn futures finishes at or above 80% of the initial price.
Otherwise, the payout will be par plus the return on corn futures, with exposure to any losses.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Trigger autocallable optimization securities
|
| Underlying commodity: | Corn futures contracts
|
| Amount: | $4,521,300
|
| Maturity: | June 8, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If price of corn futures finishes at or above trigger price, par; otherwise, par plus return
|
| Call: | At par plus annualized call return of 24.5% if corn futures price closes at or above initial price on any quarterly observation date
|
| Initial price: | $7.455
|
| Trigger price: | $5.964, or 80% of initial price
|
| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Underwriter: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1.5%
|
| Cusip: | 06741K395
|
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