By Angela McDaniels
Tacoma, Wash., July 27 - Barclays Bank plc priced $425,000 of 0% notes due July 28, 2015 linked to the S&P 500 Dynamic Veqtor Total Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are putable at any time subject to a minimum of 25 notes.
The payout upon redemption or at maturity will be the closing indicative value of the notes.
The closing indicative value is initially $1,000. On each subsequent day, it equals the closing indicative value on the preceding day multiplied by the daily index factor - the closing index level on that day divided by the closing level on the preceding date - and minus the investor fee.
The investor fee is initially zero. On each subsequent day, it is 1.25% times the closing indicative value on the preceding day times the daily index factor on that day divided by 365.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Notes
|
| Underlying index: | S&P 500 Dynamic Veqtor Total Return
|
| Amount: | $425,000
|
| Maturity: | July 28, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus the final closing indicative value
|
| Closing indicative value: | Initially $1,000; on each subsequent day, the closing indicative value on the preceding day multiplied by the daily index factor on that day and minus the investor fee of approximately 1.25% per year
|
| Put option: | At any time, subject to minimum of 25 notes; investors will receive the closing indicative value
|
| Initial index level: | 194,233.09
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06740PBY1
|
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