By Toni Weeks
San Diego, June 1 - Barclays Bank plc priced $59.83 million of 0% capped market plus notes due June 13, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index's closing level remains at or above the barrier level - 80% of the initial level - throughout the life of the notes, the payout at maturity will be par plus the greater of the index return and a minimum return of 2.74%.
Otherwise, the payout will be par plus the index return with exposure to losses.
In either case, the payout is subject to a maximum return of 20%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents, and Barclays Capital Inc. is the co-agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Capped market plus notes
|
| Underlying index: | S&P 500
|
| Amount: | $59,826,000
|
| Maturity: | June 13, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index's closing level at or above 80% of initial level through life of notes, par plus greater of index return and minimum return of 2.74%; otherwise, par plus index return with exposure to losses; in either case, maximum return of 20%
|
| Initial level: | 1,331.1
|
| Pricing date: | May 27
|
| Settlement date: | June 2
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC; Barclays Capital Inc. is co-agent
|
| Fees: | 1%
|
| Cusip: | 06738KLB5
|
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