By Marisa Wong
Madison, Wis., March 13 - Barclays Bank plc priced $3.12 million of 0% autocallable notes due Sept. 13, 2012 linked to the Brent crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning June 11, the notes will be called at 104.6% of par if the futures contract settlement price is greater than or equal to the call level on any day. The call level is 95% of the initial price.
The payout at maturity will be par if the final contract price is at least 80% of the initial price. Otherwise, investors will share in the decline from the initial price.
Barclays Capital Inc. is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable notes
|
| Underlying commodity: | Brent crude oil
|
| Amount: | $3,121,000
|
| Maturity: | Sept. 13, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final contract price is at least 80% of initial price; otherwise, full exposure to losses
|
| Call: | At par plus 4.6% if futures contract settlement price is greater than or equal to call level on any day beginning June 11
|
| Initial price: | $125.98 per barrel
|
| Call level: | $119.68 per barrel, 95% of initial price
|
| Pricing date: | March 9
|
| Settlement date: | March 14
|
| Underwriter: | Barclays Capital Inc.
|
| Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 06738KW23
|
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