By Marisa Wong
Madison, Wis., July 27 - Barclays Bank plc priced $2.19 million of 0% annual autocallable notes due July 26, 2013 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on any of three call valuation dates, the notes will be automatically called at par plus a call premium. The call premium is 14.65% if the notes are called on July 29, 2011, 29.3% if the notes are called on July 23, 2012 and 43.95% if the notes are called on July 23, 2013.
If the notes are not called and the final index level is at least 70% of the initial level, the payout at maturity will be par. If the index falls below the protection level, investors will share fully in losses.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual autocallable notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2.19 million
|
| Maturity: | July 26, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically at par plus call premium if index closes at or above initial level on any of three valuation dates
|
| Call premium: | 14.65% if called on July 29, 2011, 29.3% if called on July 23, 2012 and 43.95% if called on July 23, 2013
|
| Payout at maturity: | If notes are not called, par if index falls by up to 30% and full exposure to losses if index falls beyond 30%
|
| Initial index level: | 650.65
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2%
|
| Cusip: | 06740PCC8
|
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