By Susanna Moon
Chicago, Aug. 28 - Barclays Bank plc priced $11.67 million of 11.7% annualized yield optimization notes with contingent protection due Feb. 26, 2010 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 $64.26, which was the closing price of Freeport-McMoRan stock on the pricing date.
Interest is payable quarterly.
If the stock finishes at or above 60% of the initial price, the payout at maturity will be par.
Otherwise, investors will receive 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: | $11,665,117.80
|
| Maturity: | Feb. 26, 2010
|
| Coupon: | 11.7%, payable quarterly
|
| Price: | Par of $64.26
|
| Payout at maturity: | If Freeport-McMoRan shares finish below the trigger price, one Freeport-McMoRan share per note; otherwise, par
|
| Initial share price: | $64.26
|
| Trigger price: | $38.56, or 60% of initial price
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 31
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1%
|
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