Published on 2/6/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $3.79 million 8% autocallable yield notes on basket
By Jennifer Chiou
New York, Feb. 6 - Barclays Bank plc priced $3.79 million of 8% autocallable yield notes due Feb. 7, 2013 linked to the S&P 500 index, the SPDR S&P Metals and Mining Select Industry ETF and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the components close above their initial level on any of the call valuation dates. The call valuation dates are April 9, June 7, Aug. 7, 2012, Oct. 9, 2012 and Dec. 7, 2012.
The payout at maturity will be par unless any underlying component closes below 54% of its initial level during the life of the notes, in which case the payout will be par plus the return of the worst-performing underlying component, up to a maximum payout of par.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying components: S&P 500 index, SPDR S&P Metals and Mining Select Industry ETF and United States Oil Fund, LP
|
| Amount: | $3.79 million
|
| Maturity: | Feb. 7, 2013
|
| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any component falls to or below knock-in barrier, in which case par plus return of worst-performing component, maximum payment of par
|
| Initial levels: | 1,325.54 for S&P, $55.80 for metals/mining, $37.13 for fund
|
| Knock-in levels: | 715.79 for S&P, $30.13 for metals/mining, $20.05 for fund; 54% of initial levels
|
| Call: | At par if components close above initial levels on April 9, June 7, Aug. 7, 2012, Oct. 9, 2012 and Dec. 7, 2012 valuation dates
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 7
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.75%
|
| Cusip: | 06738KN23
|
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