By Susanna Moon
Chicago, July 8 - Barclays Bank plc priced $10 million principal amount of 6% annualized Yield Enhanced Equity Linked Debt Securities due Jan. 14, 2012 linked to GenOn Energy Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $3.94, which is the average execution price per common share that a Barclays affiliate paid to hedge the issuer's obligations under the notes.
Interest is payable monthly.
The payout at maturity will be a cash amount equal to the average of the adjusted volume-weighted average price of GenOn Energy stock up to a cap of 115% of par.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield Enhanced Equity Linked Debt Securities
|
| Underlying stock: | GenOn Energy Inc. (NYSE: GEN)
|
| Amount: | $10,000,003.68
|
| Maturity: | Jan. 14, 2012
|
| Coupon: | 6%, payable monthly
|
| Price: | Par of $3.94
|
| Payout at maturity: | Lesser of the average of the adjusted VWAP of GenOn Energy stock and the equity cap price, payable in cash
|
| Initial share price: | $3.94
|
| Equity cap price: | $4.53100, or 115% of initial share price
|
| Pricing date: | July 7
|
| Settlement date: | July 14
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06738G712
|
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