Barclays changes call level for autocallables linked to Brent crude

By Angela McDaniels

Tacoma, Wash., April 9 - Barclays Bank plc again changed the initial price and call level for its $8.45 million of 0% autocallable notes due Sept. 7, 2012 linked to the Brent crude oil futures contract, according to a 424B3 filing with the Securities and Exchange Commission.

When the notes priced on March 2, the initial price was $123.53 per barrel, and the call level was $117.35. On March 20, the issuer changed them to $123.65 and $117.47, respectively. On April 5, Barclays changed them back to $123.53 and $117.35, respectively.

As previously reported, the notes will be called at 104.45% of par if the futures contract settlement price is greater than or equal to the call level on any day beginning June 6.

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.

The notes settled March 7. The Cusip number is 06738KU41.

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