By Toni Weeks
San Diego, June 14 - Barclays Bank plc priced $2.24 million of buffered notes due June 29, 2012 linked to the price of a corn futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and JPMorgan Securities LLC are the agents.
If the commodity return is at least 2%, the payout at maturity will be par plus 1.85 times the return, subject to a maximum return of 14.8%.
Investors will receive par at maturity if the commodity return is less than 2% and greater than or equal to negative 25%.
If the final price of the corn futures contract declines from the initial price by more than 25%, investors will lose 1% for every 1% decline from the initial price of corn.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered notes
|
| Underlying commodity: | Corn futures contract
|
| Amount: | $2.24 million
|
| Maturity: | June 29, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If price of corn futures increases by at least 2%, par plus 1.85 times commodity return, subject to maximum return of 14.8%; par if return is less than 2% and greater than or equal to negative 25%; full exposure to losses if price declines more than 25%
|
| Initial price: | 733.00 cents per bushel
|
| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 06738KLY5
|
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