By Jennifer Chiou
New York, May 18 - Barclays Bank plc priced $283,000 of 9.65% autocallable yield notes due May 18, 2012 linked to the S&P 500 and Russell 2000 indexes, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if the indexes close at or above their initial levels on any of three call valuation dates, which will be the fourth trading day immediately preceding Aug. 19, Nov. 19 and Feb. 19, 2012.
A knock-in event will occur if either index falls below the trigger level - 75% of the initial level - on any trading day.
If a knock-in event does not occur or if a knock-in event occurs but the indexes gain, the payout at maturity will be par.
If a knock-in event occurs and the return of the least-performing index is negative, investors will share in that index's performance.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $283,000
|
| Maturity: | May 18, 2012
|
| Coupon: | 9.65%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either index ever dips below trigger level and finishes below initial level, investors will share in losses of worst-performing index; otherwise, par
|
| Call: | At par plus accrued interest if indexes close at or above initial level on fourth trading day prior to Aug. 19, Nov. 19 or Feb. 19, 2012
|
| Initial index levels: | 1,329.47 for S&P, 822.91 for Russell
|
| Trigger levels: | 997.10 for S&P, 617.18 for Russell; 75% of initial level
|
| Pricing date: | May 16
|
| Settlement date: | May 19
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06738KHX2
|
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