By Jennifer Chiou
New York, May 19 - Barclays Bank plc priced $4.3 million of 13% yield optimization notes with contingent protection due May 23, 2011 linked to the common stock of International Paper Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Each note has a face value of $23.60, which is equal to the closing price of International Paper stock on the pricing date.
The payout at maturity will be par unless the final price of International Paper stock is less than 80% of the initial share price, in which case the payout will be one share of International Paper stock.
UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.
| Issuer: | Barclays Bank plc
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | International Paper Co. (Symbol: IP)
|
| Amount: | $4,298,976
|
| Maturity: | May 23, 2011
|
| Coupon: | 13%, payable monthly
|
| Price: | Par of $23.60
|
| Payout at maturity: | If final share price is less than trigger price, one International Paper share; otherwise, par
|
| Initial share price: | $23.60
|
| Trigger price: | $18.88, 80% of initial price
|
| Pricing date: | May 17
|
| Settlement date: | May 20
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 2%
|
| Cusip: | 06740L584
|
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