By Susanna Moon
Chicago, Feb. 14 - Barclays Bank plc priced $6.09 million of 0% autocallable notes due Aug. 15, 2012 linked to the price of palladium, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call return of 6.4% if palladium closes at or above the initial level on any day after May 10.
The payout at maturity will be par if palladium finishes at or above 80% of the initial level.
Otherwise, investors will be exposed to any losses.
Barclays Capital Inc. is the underwriter, and JPMorgan Chase Bank, NA and JPMorgan Securities LLC are the placement agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying commodity: | Palladium
|
| Amount: | $6,091,000
|
| Maturity: | Aug. 15, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus annualized call return of 6.4% if palladium closes at or above initial level during review period beginning May 10
|
| Payout at maturity: | Par if palladium finishes at or above 80% of initial level; otherwise, full exposure to losses
|
| Initial level: | $697
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 15
|
| Agents: | Barclays Capital Inc. (underwriter); JPMorgan Chase Bank, NA and JPMorgan Securities LLC (placement agents)
|
| Fees: | 0.5%
|
| Cusip: | 06738KP47
|
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