By Susanna Moon
Chicago, March 29 - Barclays Bank plc priced $2.3 million of annual reset coupon buffered notes due March 31, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be equal to the maximum digital percentage of 5.25% if the index's return for that year is positive or zero. Otherwise, the coupon will be the minimum digital percentage of 3% for that year. Interest is payable annually.
Investors will receive par at maturity if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Annual reset coupon buffered notes
|
| Underlying index: | S&P 500
|
| Amount: | $2.3 million
|
| Maturity: | March 31, 2017
|
| Coupon: | 5.25% if year-over-year index return is at least zero, otherwise 3%; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par if index falls by 20% or less; 1% loss for every 1% index decline beyond 20%
|
| Initial index level: | 1,412.52
|
| Pricing date: | March 27
|
| Settlement date: | March 30
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 4%
|
| Cusip: | 06738KU82
|
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