By Angela McDaniels
Tacoma, Wash., April 29 - Barclays Bank plc priced $1.93 million of yield optimization notes with contingent protection due Oct. 29, 2010 linked to the common stock of Dell Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes carry a coupon of 9.7% per year. Interest is payable monthly.
Each note has a face value of $16.51, which is equal to the closing price of Dell stock on the pricing date.
The payout at maturity will be par unless the final price of Dell stock is less than 80% of the initial share price, in which case the payout will be one share of Dell stock.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Dell Inc. (Symbol: DELL)
|
| Amount: | $1,934,427.17
|
| Maturity: | Oct. 29, 2010
|
| Coupon: | 9.7%, payable monthly
|
| Price: | Par of $16.51
|
| Payout at maturity: | If final share price is less than trigger price, one Dell share; otherwise, par
|
| Initial share price: | $16.51
|
| Trigger price: | $13.21, 80% of initial price
|
| Pricing date: | April 28
|
| Settlement date: | April 30
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1%
|
| Cusip: | 06740L618
|
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