By Angela McDaniels
Tacoma, Wash., July 27 - Barclays Bank plc priced $5 million principal amount of 2.9% annualized Yield Enhanced Equity Linked Debt Securities due Feb. 1, 2012 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $397.40, which is the average execution price per share for the common stock that an affiliate of Barclays paid to hedge the issuer's obligations under the notes.
Interest is payable monthly.
The payout at maturity will be an amount equal to the closing share price of Apple stock on Jan. 25, 2012. The payout will be capped at 120% of par and is payable in cash or Apple stock at the issuer's option.
The final price of Apple stock will be adjusted if the actual aggregate dividend and the expected aggregate dividend differ. The expected aggregate dividend is zero.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield Enhanced Equity Linked Debt Securities
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $5,000,086.80
|
| Maturity: | Feb. 1, 2012
|
| Coupon: | 2.9%, payable monthly
|
| Price: | Par of $397.40
|
| Payout at maturity: | Lesser of closing share price of Apple stock on Jan. 25, 2012 and equity cap price, payable in cash or stock
|
| Initial share price: | $397.40
|
| Equity cap price: | $476.88, 120% of initial share price
|
| Pricing date: | July 25
|
| Settlement date: | Aug. 1
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06738G571
|
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