By Marisa Wong
Madison, Wis., Jan. 18 - Barclays Bank plc priced $360,000 of 7% autocallable yield notes due Jan. 16, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par plus accrued interest if the indexes close at or above their initial levels on April 16, July 16 or Oct. 16, 2012.
A knock-in event will occur if either index falls below the knock-in level, 55% of the initial level, on any trading day.
If a knock-in event does not occur, investors will receive par at maturity. If a knock-in event occurs and the return of the least-performing index is zero or positive, investors will also receive par.
If a knock-in event occurs and the return of the least-performing index is negative, investors will share in those losses.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $360,000
|
| Maturity: | Jan. 16, 2013
|
| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par, if a knock-in event does not occur or if it does occur but the return of the worst-performing index is at least zero; full exposure to losses if a knock-in event occurs and the return of the worst-performing index is negative
|
| Call: | At par if both underlying indexes close at or above initial levels on April 16, July 16 or Oct. 16, 2012
|
| Initial levels: | 1,289.09 for S&P, 764.20 for Russell
|
| Knock-in levels: | 709.00 for S&P, 420.31 for Russell; 55% of initial levels
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 19
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06738KF97
|
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