By Angela McDaniels
Tacoma, Wash., May 26 - Barclays Bank plc priced $5 million of 13.8% yield optimization notes with contingent protection due May 27, 2011 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $48.65, which is equal to the closing price of one Freeport-McMoRan share on the pricing date.
Interest is payable monthly.
If the final share price is greater than or equal to 60% of the initial price, the payout at maturity will be par. Otherwise, the payout will be one Freeport-McMoRan share per note.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
|
| Amount: | $4,999,857.80
|
| Maturity: | May 27, 2011
|
| Coupon: | 13.8%, payable monthly
|
| Price: | Par of $48.65
|
| Payout at maturity: | If Freeport-McMoRan stock finishes below the trigger price, one Freeport-McMoRan share per note; otherwise, par
|
| Initial share price: | $48.65
|
| Trigger price: | $29.19, 60% of initial price
|
| Pricing date: | May 21
|
| Settlement date: | May 28
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2.75%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
