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BARCLAYS BANK PLC — Capital/Financing Update 2011
Jan 12, 2011
35609_rns_2011-01-12_4dd24f27-3381-41e8-b9b3-29ac553fd56a.pdf
Capital/Financing Update
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Amended Final Terms
BARCLAYS BANK PLC
(Incorporated with limited liability in England and Wales)
BARCLAYS CAPITAL (CAYMAN) LIMITED
(Incorporated with limited liability in the Cayman Islands)
GLOBAL STRUCTURED SECURITIES PROGRAMME
for the issue of Securities
BARCLAYS BANK PLC
EUR5,000,000 Index Linked Notes due 8 July 2019
Series G20107NHP51
under the Global Structured Securities Programme
Issue Price: 100 per cent. of par
This document constitutes the final terms of the Notes (the "Final Terms") described herein for the purposes of Article 5.4 of the Directive 2003/71/EC and is prepared in connection with the Global Structured Securities Programme established by Barclays Bank PLC (the "Bank") and Barclays Capital (Cayman) Limited ("BCCL") and is supplemental to and should be read in conjunction with the Base Prospectus dated 6 August 2010 (the "2010 Base Prospectus"), as supplemented and amended from time to time, which constitutes a base prospectus (the "Base Prospectus") for the purpose of the Directive 2003/71/EC, save for the Conditions as set out in the Base Prospectus dated 5 August 2009 (the "2009 Base Prospectus") and incorporated by reference in the 2010 Base Prospectus. Full information on the Issuer and the offer of the Securities is only available on the basis of the combination of these Final Terms the 2010 Base Prospectus and the Conditions set out in the 2009 Base Prospectus and incorporated by reference in the 2010 Base Prospectus. The Final Terms, the 2009 Base Prospectus and the 2010 Base Prospectus are available for viewing during normal business hours at the registered office of the Issuer and the specified office of the Issue and Paying Agent for the time being in London and copies may be obtained from such office. Words and expressions defined in the 2009 Base Prospectus and the 2010 Base Prospectus and not defined in this document shall bear the same meanings when used herein.
The Issuer accepts responsibility for the information contained in these Final Terms. To the best of its knowledge and belief (having taken all reasonable care to ensure that such is the case) the information contained in these Final Terms is in accordance with the facts and does not contain anything likely to affect the import of such information.
Investors should refer to the sections headed "Risk Factors" in the 2010 Base Prospectus for a discussion of certain matters that should be considered when making a decision to invest in the Securities.
Barclays Capital
Final Terms as amended and reinstated on 12 January 2011
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8 %
STOXX and its licensors (the "Licensors") have no relationship to Barclays, other than the licensing of the EURO STOXX 50® Index and the related trademarks for use in connection with the products.
STOXX and its Licensors do not:
- Sponsor, endorse, sell or promote the products.
- Recommend that any person invest in the products or any other securities.
- Have any responsibility or liability for or make any decisions about the timing, amount or pricing of products.
- Have any responsibility or liability for the administration, management or marketing of the products.
- Consider the needs of the products or the owners of the products in determining, composing or calculating the EURO STOXX 50® Index or have any obligation to do so.
STOXX and its Licensors will not have any liability in connection with the products. Specifically,
- STOXX and its Licensors do not make any warranty, express or implied and disclaim any and all warranty about:
- The results to be obtained by the products, the owner of the products or any other person in connection with the use of the EURO STOXX 50® Index and the data included in the EURO STOXX 50® Index;
- The accuracy or completeness of the EURO STOXX 50® Index and its data;
- The merchantability and the fitness for a particular purpose or use of the EURO STOXX 50® Index and its data;
- STOXX and its Licensors will have no liability for any errors, omissions or interruptions in the EURO STOXX 50® Index or its data;
- Under no circumstances will STOXX or its Licensors be liable for any lost profits or indirect, punitive, special or consequential damages or losses, even if STOXX or its Licensors knows that they might occur.
The licensing agreement between the issuer and STOXX is solely for their benefit and not for the benefit of the owners of the products or any other third parties.
Part A
Terms and Conditions of the Securities
The Securities shall have the following terms and conditions, which shall complete, modify and/or amend the Base Conditions and/or any applicable Relevant Annex(es) set out in the Base Prospectus dated 5 August 2009.
Parties
Issuer: Barclays Bank PLC
Guarantor: N/A
Manager[s]: Barclays Bank PLC
Determination Agent: Barclays Bank PLC
Issue and Paying Agent: The Bank of New York Mellon
Stabilising Manager: N/A
Registrar: N/A
Transfer Agent: N/A
Exchange Agent: N/A
Additional Agents: N/A
THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND THE SECURITIES COMPRISE BEARER SECURITIES THAT ARE SUBJECT TO US TAX LAW REQUIREMENTS. SUBJECT TO CERTAIN EXCEPTIONS, THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, US PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT ("REGULATION S")). THESE FINAL TERMS HAVE BEEN PREPARED BY THE ISSUER FOR USE IN CONNECTION WITH THE OFFER AND SALE OF THE SECURITIES OUTSIDE THE UNITED STATES TO NON-US PERSONS IN RELIANCE ON REGULATION S AND FOR LISTING OF THE SECURITIES ON THE RELEVANT STOCK EXCHANGE, IF ANY, AS STATED HEREIN. FOR A DESCRIPTION OF THESE AND CERTAIN FURTHER RESTRICTIONS ON OFFERS AND SALES OF THE SECURITIES AND DISTRIBUTION OF THESE FINAL TERMS AND THE BASE PROSPECTUS.
ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.
Provisions relating to the Securities
1 EUR5,000,000 Index Linked Notes due 8 July 2019 Title: 2 G20107NHP51 Series: 3 EUR Currency: 4 Notes: Applicable EUR5,000,000 (i) Aggregate Nominal Amount as at the Issue Date: (ii) Specified Denomination: EUR1,000 5 Certificates: N/A 6 Form: (i) Global/Definitive/Uncertificated and Global Bearer Securities: dematerialised: Temporary Global Security, exchangeable for a Permanent Global Security (ii) NGN Form: N/A (iii) CGN Form: Applicable 7 Trade Date: 21 lune 2010 8 Issue Date: 30 lune 2010 9 Issue Price: 100 per cent. of the Aggregate Nominal Amount 10 Relevant Stock Exchange[s]: London Stock Exchange 11 The following Relevant Annex(es) shall apply Equity Linked Annex to the Securities (specify each applicable Relevant Annex): Provisions relating to interest (if any) payable on the Securities 12 Interest: N/A N/A 13 Calculation Amount per Security as at the Issue Date: N/A Interest Amount: 14 N/A 15 Interest Basis: N/A 16 Interest Rate: N/A (i) Fixed Rate: N/A (ii) Floating Rate: N/A (iii) Variable Rate: Credit Event Accrued Interest: N/A (a) (b) Extension Interest: N/A
| (iv) | Zero Coupon: | N/A | |
|---|---|---|---|
| 17 | Screen | Rate Determination: | N/A |
| 18 | ISDA Determination: N/A | ||
| 19 | Margin: N/ | N/A | |
| 20 | Minimum/Maximum Interest Rate: N/A | ||
| 21 | Interes | st Commencement Date: | N/A |
| 22 | Interes | st Determination Date: | N/A |
| 23 | Interes | st Calculation Periods: | N/A |
| 24 | Interes | et Payment Dates: | N/A |
| 25 | Day Co | ount Fraction: | N/A |
| 26 | denom | ck provisions, rounding provisions, ninator and any other terms relating to ethod of calculating interest, if different hose set out in the Base Conditions: |
N/A |
| _ |
Provisions relating to Redemption
27 Redemption Date: 8 July 2019
28 Settlement Method: Cash Settlement
29 Settlement Currency: EUR
30 Calculation Amount per Security as at the EUR1,000
Issue Date:
31 Terms relating to Cash Settled Securities:
(i) Final Cash Settlement Amount The Final Cash Settlement Amount shall be
calculated as follows:
Calculation Amount x
$$\left(100\% + Gearing \times MAX \left(0; \frac{Underlying_{Final}}{Underlying_{Initial}} - 100\%\right)\right)$$
Where:
"Gearing" means 80%.
" $\mathit{Underlying}_{\mathit{Initial}}$ " means the Index Level on the Strike Date, being
" $Underlying_{\mathit{Final}}$ " means the Index Level on the Valuation Date.
"Strike Date" means 30 June 2010.
(ii) Early Cash Settlement Amount: As defined in Condition 24 of the Base Conditions
(iii) Early Cash Redemption Date: As defined in Condition 24 of the Base Conditions
| (iv) | Disru | ption Cash Settlement Price: | N/A | |
|---|---|---|---|---|
| 32 | Terms Securi |
ns relating to Physically Delivered rities: | ||
| (i) | Physical Redemption lement: |
N/A | ||
| (ii) | Final | Physical Redemption Date: | N/A | |
| (iii) | Phys | ical Delivery Date(s): | N/A | |
| (iv) | Entit | lement Substitution: | N/A | |
| 33 | Nomir | lominal Call Event: | N/A | |
| 34 | Call Option: | Applicable: | ||
| The Issuer may elect to call the Notes on each Call Notice Date, paying the Optional Cash Settlement Amount on the Optional Cash Redemption Date. | ||||
| Where: | ||||
| "Call Notice Date" means each date, as set out in the Schedule under the heading "Call Notice Date" |
||||
| (i) | Cash | Settled Securities: | ||
| (a) | Optional Cash Settlement Amount: |
As set out in the Schedule | ||
| (b) | Optional Cash Redemption Date: | As set out in the Schedule | ||
| (ii) | Phys | ically Delivered Securities: | ||
| (a) | Optional Physical Redemption Entitlement: |
N/A | ||
| (b) | Optional Physical Redemption Date(s): | N/A | ||
| (iii) | Issue | r Option Exercise Period: | N/A | |
| (iv) | Issue | r Notice Period: | Each Call Notice Date as set out in the Schedule | |
| 35 | Put Օլ | Put Option: | N/A | |
| 36 | 6 Specified Early Redemption Event: (i) Automatic Early Redemption | ly Redemption Event: | N/A | |
| matic Early Redemption | N/A | |||
| (ii) | Cash | Settled Securities: | N/A | |
| (a) | Specified Early Cash | N/A |
Settlement Amount:
| (b) | Specified Cash Redemption Date(s): | N/A | |||
|---|---|---|---|---|---|
| (iii) | (iii) Physically Delivered Securities: | ||||
| (a) | Specified Early Physical Redemption Entitlement: |
N/A | |||
| (b) | Specified Early Physical Redemption Date(s): | N/A | |||
| 37 | num a remen |
nd Minimum Redemption its: |
|||
| (i) | Dail | y Maximum Amount: | N/A | ||
| (ii) | imum Number/Minimum ninal Amount: |
N/A | |||
| (iii) | y Maximum Number/Daily timum Amount: |
N/A | |||
| 38 | Valua | luation Date(s): | 28 June 2019 | ||
| 39 | Valua | Valuation Time: | As defined in the Relevant Annex | ||
| 40 | Avera | veraging Date(s): | N/A | ||
| 41 | Additional Disruption Events in addition to those specified in Condition 24 of the Base Conditions and any applicable Relevant Annex: | ied in Condition 24 of the Base | |||
| (i) | Oth | er Additional Disruption Event: | N/A | ||
| (ii) | cted Jurisdiction Hedging uption: |
N/A | |||
| (iii) | cted Jurisdiction Increased Cost ledging: |
N/A | |||
| (iv) | Affe | cted Jurisdiction: | N/A | ||
| 42 | Share | Share Linked Securities: | N/A | ||
| 43 | Index Linked Securities (Equity indices only): | d Securities ( Equity indices only ): | Applicable | ||
| (i) | Inde Asse |
ex/Indices (each a "Reference et"): |
The EuroStoxx50 Index (the "Index"), as calculated and sponsored by STOXX | ||
| (Bloomberg code: SX5E ) | |||||
| (ii) | Exch | nange[s]: | Multi-exchange Index | ||
| (iii) | Rela | ted Exchange[s]: | All Exchanges | ||
| (iv) | Exch | nange Rate: | N/A | ||
| (v) | ghting for each Reference Asset aprising the Basket of Reference | N/A |
| Assets: | |||||
|---|---|---|---|---|---|
| (vi) | Index Level of each Reference Asset: | The level of the Index at the Valuation Time on any Exchange Business Day | |||
| (vii) | Averaging: | N/A | |||
| (ix) | FX Disruption Event: | N/A | |||
| (x) | Other adjustments: | N/A | |||
| 44 | Inflati | on Linked Securities: | N/A | ||
| 45 | Fund | Linked Securities: | N/A | ||
| 46 | FX Lir | ked Securities: | N/A | ||
| 47 | Credit | Linked Securities: | N/A | ||
| 48 | Comn | nodity Linked Securities: | N/A | ||
| 49 | Addit | ional terms and conditions relating to | N/A | ||
| the Securities: | |||||
| Provisions relating to Settlement | |||||
| 50 | Minim | um Settlement Amount: | EUR25,000 | ||
| 51 | Settlement in respect of APK Registered Securities, Swedish Registered Securities, VPS Registered Securities or Spanish Securities: |
N/A | |||
| 52 | Additional provisions relating to Taxes and N Settlement Expenses: |
N/A | |||
| Definitions | |||||
| 53 | Business Day: | As defined in Condition 24 of the Base Conditions | |||
| 54 | Additio | onal Business Centre(s): | N/A | ||
| Selling restrictions and provisions relating to certification | |||||
| 55 | Non-U | S Selling Restrictions: | As described in the Base Prospectus | ||
| 56 | Applic | TEFRA D | |||
| General | |||||
| 57 | Busine | ss Day Convention: | Modified Following | ||
| 58 | Releva | nt Clearing Systems: | Euroclear | ||
| Clearstream, Luxembourg | |||||
| 59 | If synd | icated, names of Managers: | N/A |
N/A
N/A
ISIN: XS0521010693
Common Code: 052101069
Details relating to Partly Paid Securities:
Modifications to the Master Subscription
Agreement and/or Master Agency
Relevant securities codes:
60
61
Agreement:
63 Additional Conditions and/or modification to the Conditions of the Securities:
In relation to Condition 5.4, "Hedging Disruption" and "Increased Cost of Hedging" shall be disapplied.
Part B Other Information
1 LISTING AND ADMISSION TO TRADING
(i) Listing London
(ii) Admission to trading: Application is expected to be made by the
Issuer (or on its behalf) for the Securities to be admitted to trading on the London Stock
Exchange's Regulated Market.
(iii) Estimate of total expenses related
to admission to trading:
GBP 300.00
2 RATINGS
Ratings: The Securities have not been individually rated
3 NOTIFICATION
N/A
4 INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save as discussed in "Subscription and Sale", so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer
5 REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES
(i) Reasons for the offer: General funding(ii) Estimated net proceeds: EUR5,000,000
(iii) Estimated total expenses: N/A
6 FIXED RATE SECURITIES ONLY - YIELD
Indication of yield: N/A
7 FLOATING RATE SECURITIES ONLY - HISTORIC INTEREST RATES
N/A
PERFORMANCE OF REFERENCE ASSET(S) OR OTHER VARIABLE, EXPLANATION OF EFFECT ON VALUE OF INVESTMENT AND ASSOCIATED RISKS AND OTHER INFORMATION CONCERNING THE REFERENCE ASSET(S) AND/OR OTHER UNDERLYING
N/A
PERFORMANCE OF RATE[S] OF EXCHANGE AND EXPLANATION OF EFFECT ON VALUE OF INVESTMENT
N/A
10 OPERATIONAL INFORMATION
Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking Société Anonyme (together with their addresses) and the relevant identification number(s):
N/A
N/A
Delivery:
Delivery free of payment
Names and addresses of additional Paying Agents(s) (if any) [and APK Issue and Paying Agent / Swedish Issue and Paying Agent / VPS Issue and Paying Agent / Spanish Securities
Issue and Paying Agent]:
Intended to be held in a manner which would
allow Eurosystem eligibility:
No
11 OFFER INFORMATION
The issue price of 100% does not reflect the potential discount level at which the note has been issued at from the Issuer to the Underwriter/Arranger/Distributor. Details of the discount levels are available on request from the Underwriter/Arranger/Distributor.
Schedule
| Call Notice Date | Optional Cash | Optional Cash Settlement Amount |
|---|---|---|
| Redemption Date | ||
| 30 June 2011 | 7 July 2011 | Calculation Amount x (100% + 1 x 6%) |
| 29 June 2012 | 9 Ju ly 2012 | Calculation Amount x (100% + 2 x 6%) |
| 28 June 2013 | 8 July 2013 | Calculation Amount x (100% + 3 x 6%) |
| 30 June 2014 | 7 July 2014 | Calculation Amount x (100% + 4 x 6%) |
| 30 June 2015 | 7 July 2015 | Calculation Amount x (100% + 5 x 6%) |
| 28 June 2016 | 7 July 2016 | Calculation Amount x (100% + 6 x 6%) |
| 30 June 2017 | 7 July 2017 | Calculation Amount x (100% + 7 x 6%) |
| 30 June 2018 | 9 July 2018 | Calculation Amount x (100% + 8 x 6%) |
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