By Angela McDaniels
Tacoma, Wash., Dec. 9 - Barclays Bank plc priced $18.06 million of 0% autocallable optimization securities with contingent protection due Dec. 11, 2015 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the trust closes at or above its initial price on any of 17 quarterly observation dates, the notes will be called and investors will receive par of $10 plus an annualized return of 8.69%. The first observation date is Dec. 13, 2011.
If the notes are not called, the payout at maturity will be par if the final price is at least 60% of the initial price. Otherwise, investors will receive par plus the trust return.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Autocallable optimization securities with contingent protection
|
| Underlying trust: | SPDR S&P 500 ETF trust
|
| Amount: | $18,056,400
|
| Maturity: | Dec. 11, 2015
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final price is at least 60% of initial price, par; otherwise, par plus trust return
|
| Call: | Automatically at par plus 8.69% per year if trust closes at or above initial price on any of 17 quarterly observation dates; first observation date is Dec. 13, 2011
|
| Initial price: | $122.74
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 9
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2.5%
|
| Cusip: | 06740P726
|
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