By Susanna Moon
Chicago, Feb. 2 - Barclays Bank plc priced $1.12 million of 0% barrier notes due Feb. 3, 2014 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the index ever closes below the barrier - 61% of the initial price - during the life of the notes.
If the index finishes above the initial level, the payout at maturity will be par plus any gain, up to a maximum return of 40%, regardless of whether a barrier event has occurred.
If the index falls and a barrier event never occurs, the payout will be par plus the absolute value of the index return, with any gains capped at 40%.
Otherwise, investors will be fully exposed to any losses.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Barrier notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,115,000
|
| Maturity: | Feb. 3, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus any index gain; if index falls and never closes below barrier level, par plus absolute value of return; otherwise, exposure to any losses; any gains will be capped at 40%
|
| Initial level: | 1,312.41
|
| Barrier level: | 800.57, 61% of initial level
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 3
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
| Cusip: | 06738KJ93
|
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