Published on 4/29/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $5.51 million 10.9% trigger yield optimization notes on Walter Energy
By Marisa Wong
Madison, Wis., April 29 - Barclays Bank plc priced $5.51 million of 10.9% annualized trigger yield optimization notes due Oct. 31, 2011 linked to the common stock of Walter Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is equal to $134.24, the initial price of Walter Energy stock.
Interest will be payable monthly.
The payout at maturity will be par unless the final price of Walter Energy stock is less than 70% of the initial share price, in which case investors will receive one Walter Energy share per note.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
Issuer: | Barclays Bank plc
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Issue: | Trigger yield optimization notes
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Underlying stock: | Walter Energy, Inc. (NYSE: WLT)
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Amount: | $5,513,236.80
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Maturity: | Oct. 31, 2011
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Coupon: | 10.9%, payable monthly
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Price: | Par of $134.24
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Payout at maturity: | If final price of Walter Energy stock is less than 70% of initial price, one Walter Energy share per note; otherwise, par
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Initial price: | $134.24
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Trigger price: | $93.97, 80% of initial price
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Pricing date: | April 27
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Settlement date: | April 29
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Agents: | Barclays Capital Inc. and UBS Financial Services Inc.
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Fees: | 1%
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Cusip: | 06741K643
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