Bane is an item property introduced with Publish. For a chance to trigger this on hit effect, the target's health has to drop below 50%. The far, the better is the chance. While at the same time the additional damage caused grows. Starting with about 50% of its damage potential at targets half life, growing to 100% near targets death. The additional damage caused is 30% of targets Max. HP capped at 350 physical damage - before damage reduction by physical resist.
Baracoon's maximum hitpoints : 12,000 HP
30% of 12,000 is 3600 physical damage from bane but is capped at 350 physical damage.
350 physical damage - 70% physical resist of Baracoon = 105 damage
At half health the proc in this case will start at 52 damage and will scale up to 105 damage as the mob loses life.
Character's maximum hitpoint: 150 HP
30% of 150 is 45 physical damage from bane
45 physical damage - 70% physical resist of the Character = 13.5 damage (subject to unknown rounding rule)
At half health the proc in this case will start at 7 damage and will scale up to 13.5 damage as the character loses life.
Runic Crafting, Reforging & Imbuing
As of today (2013-10-15), Bane is a property available on Ararat Artifacts only. It is not possible to runic craft or reforge items with the Bane property nor to imbue it onto items.