Published on 1/18/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $800,000 10.25% autocallable yield notes on S&P, Russell, U.S. Oil
By Marisa Wong
Madison, Wis., Jan. 18 - Barclays Bank plc priced $800,000 of 10.25% autocallable yield notes due Jan. 16, 2013 linked to the S&P 500 index, the Russell 2000 index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par plus accrued interest if the components close at or above their initial levels on April 16, July 16 or Oct. 16, 2012.
A knock-in event will occur if any component falls below the knock-in level, 60% of the initial level, on any trading day.
If a knock-in event does not occur, investors will receive par at maturity. If a knock-in event occurs and the return of the least-performing component is zero or positive, investors will also receive par.
If a knock-in event occurs and the return of the least-performing component is negative, investors will share in those losses.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable yield notes
|
| Underlying components: | S&P 500 index, Russell 2000 index, United States Oil Fund, LP
|
| Amount: | $800,000
|
| Maturity: | Jan. 16, 2013
|
| Coupon: | 10.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par, if a knock-in event does not occur or if it does occur but the return of the worst-performing component is at least zero; full exposure to losses if a knock-in event occurs and the return of the worst-performing component is negative
|
| Call: | At par if underlying components close at or above initial levels on April 16, July 16 or Oct. 16, 2012
|
| Initial levels: | 1,289.09 for S&P, 764.20 for Russell, $38.18 for U.S. Oil
|
| Knock-in levels: | 773.45 for S&P, 458.52 for Russell, $22.91 for fund; 60% of initial levels
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 19
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.25%
|
| Cusip: | 06738KH87
|
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