By Marisa Wong
Madison, Wis., Sept. 29 - Barclays Bank plc priced $50,000 of 0% Super Track notes due March 31, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if the index closes below the knock-in barrier - 60% of the initial level - on any day during the life of the notes.
The initial level is equal to the greater of 856.62 and the lowest of the index closing levels on Sept. 27, Oct. 27, Nov. 29, Dec. 27, Jan. 27, Feb. 28, and March 28.
If the index return is positive, the payout at maturity will equal par plus 1.4 times any index gain, subject to a maximum return of 70%.
If the index return is zero or negative and a knock-in event does not occur, the payout will be par.
Otherwise, the payout will be par plus the return and investors will share fully in losses.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Super Track notes
|
| Underlying index: | S&P 500
|
| Amount: | $50,000
|
| Maturity: | March 31, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.4 times any index gain, capped at 70%; if a knock-in event does not occur and the index return is zero or negative, par; otherwise par plus the return with exposure to losses
|
| Initial index level: | Greater of 856.62 and the lowest of the index closing levels on Sept. 27, Oct. 27, Nov. 29, Dec. 27, Jan. 27, Feb. 28, and March 28
|
| Pricing date: | Sept. 27
|
| Settlement date: | Sept. 30
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 3%
|
| Cusip: | 06740PPY6
|
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