Published on 9/25/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $2.28 million buffered return enhanced notes on commodities
By Jennifer Chiou
New York, Sept. 25 - Barclays Bank plc priced $2,275,000 of 0% buffered return enhanced notes due Oct. 2, 2013 linked to a basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of Brent crude, corn and palladium.
If the final basket level is at least 85% of the initial basket level, the payout at maturity will be par plus the greater of the 5.6% contingent minimum return and the basket return, subject to a maximum return of 10%.
If the final basket level is below the barrier level, investors will lose 1.1765% for every 1% basket decline beyond the 85% barrier level.
Barclays is the agent with JPMorgan Chase Bank, NA and JPMorgan Securities LLC as distributors.
Issuer: | Barclays Bank plc
|
Issue: | Buffered return enhanced notes
|
Underlying asset: | Brent crude, corn and palladium, equally weighted
|
Amount: | $2,275,000
|
Maturity: | Oct. 2, 2013
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If final level is at least 85% of initial level, par plus greater of 5.6% and the percentage change in the basket, subject to a maximum return of 10%; otherwise, 1.1765% for every 1% basket decline beyond the 85% barrier level
|
Initial prices: | $111.42 for Brent crude, 748.25 cents for corn, $672.00 for palladium
|
Barrier price: | 85% of initial price
|
Pricing date: | Sept. 21
|
Settlement date: | Sept. 26
|
Underwriter: | Barclays
|
Distributors: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
Fees: | 1%
|
Cusip: | 06741TGP6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.