By Toni Weeks
San Diego, July 6 - Barclays Bank plc priced $842,000 of 8% autocallable yield notes due Jan. 6, 2012 linked to the Russell 2000 index and the U.S. 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 each underlying component closes at or above its initial level on the Sept. 7 or Nov. 7 call valuation date.
A knock-in event will occur if either the fund or the index falls below the barrier level, 75% of the initial level, on any trading day during the life of the notes.
If a knock-in event does not occur, investors will receive par at maturity. If a knock-in event occurs and the return of the worst-performing component is at least zero, investors will receive par.
If a knock-in event occurs and the return of the worst-performing component is negative, investors will share in those losses.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Russell 2000 index and U.S. Oil Fund, LP
|
| Amount: | $842,000
|
| Maturity: | Jan. 6, 2012
|
| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par, if a knock-in event does not occur or if it does occur but the return of the worst-performing component is at least zero; full exposure to losses if a knock-in event occurs and the return of the worst-performing component is negative
|
| Call: | At par if both underlying components close at or above initial levels on Sept. 7 or Nov. 7
|
| Initial levels: | 840.04 for index and $37.15 for fund
|
| Knock-in barriers: | 630.03 for index, $27.86 for fund; 75% of initial levels
|
| Pricing date: | July 1
|
| Settlement date: | July 7
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.75%
|
| Cusip: | 06738KMU2
|
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