By Jennifer Chiou
New York, April 2 - Barclays Bank plc priced $24,832,100 of 0% Strategic Accelerated Redemption Securities due April 15, 2013 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a 12.35% call premium if the index closes at or above its initial level on any of the three observation dates.
If the notes are not called and the final index level is at least 95% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 5%.
Bank of America Merrill Lynch is the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying index: | Russell 2000
|
| Amount: | $24,832,100
|
| Maturity: | April 15, 2013
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par if final index level is at least 95% of the initial level; exposure to losses beyond 5%
|
| Call: | Automatically at par plus 12.35% premium if the index closes at or above its initial level on any of the three observation dates
|
| Initial index level: | 832.22
|
| Pricing date: | March 29
|
| Settlement date: | April 5
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 1.25%
|
| Cusip: | 06741L351
|
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