By Angela McDaniels
Tacoma, Wash., May 30 - Barclays Bank plc priced $4.2 million of 0% autocallable notes due Nov. 29, 2012 linked to the Brent crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Aug. 27, the notes will be called at par plus a call premium of 5.42% if the futures contract price closes at or above the initial price on any day.
If the notes are not called and the final contract price is at least 80% of the initial price, the payout at maturity will be par. If the final contract price is less than 80% of the initial price, investors will be exposed to the decline from the initial price.
Barclays Capital Inc. is the agent, 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 futures contract
|
| Amount: | $4,195,000
|
| Maturity: | Nov. 29, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final contract price is at least 80% of initial price, par; otherwise, full exposure to decline from initial price
|
| Call: | Automatically at 105.42% of par if futures contract price closes at or above initial price on any day from Aug. 27 onward
|
| Initial price: | $106.83 per barrel
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Underwriter: | Barclays Capital Inc.
|
| Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 06738K5Z0
|
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