Published on 10/20/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $180,000 more 9% autocallable yield notes linked to indexes, fund
By Toni Weeks
San Diego, Oct. 20 - Barclays Bank plc priced an additional $180,000 of 9% annualized autocallable yield notes due April 20, 2012 linked to the S&P 500 index, the Russell 2000 index and the iShares Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $460,000. The initial $280,000 of the notes priced on Oct. 17.
Interest is payable monthly.
The notes will be called at par if either index or the fund closes above its initial level on either call valuation date. The call valuation dates are four business days before the interest payment dates in December and February.
The payout at maturity will be par unless any underlying component closes below 55% of its initial level during the life of the notes, in which case the payout will be par plus the return of the worst-performing underlying component, up to a maximum payout of par.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying components: | S&P 500 index, Russell 2000 index and iShares Emerging Markets index fund
|
| Amount: | $460,000, upsized from $280,000
|
| Maturity: | April 20, 2012
|
| Coupon: | 9% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any component falls to or below knock-in barrier, in which case par plus return of worst-performing component, maximum of par
|
| Initial levels: | 1,200.86 for S&P, 688.60 for Russell, $38.25 for fund
|
| Knock-in levels: | 660.47 for S&P, 378.73 for Russell, $21.04 for fund; 55% of initial levels
|
| Call: | At par if an index or fund closes above initial level on valuation dates four days before interest payment dates in December and February
|
| Pricing date: | Oct. 17 for $280,000; Oct. 20 for $180,000
|
| Settlement date: | Oct. 20
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.8%
|
| Cusip: | 06738KWQ0
|
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