Published on 9/19/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.6 million notes linked to S&P 500, iShares Emerging Markets ETF
By Angela McDaniels
Tacoma, Wash., Sept. 19 - Barclays Bank plc priced $1.6 million of 0% notes due Sept. 20, 2019 linked an equally weighted basket consisting of the S&P 500 index and the iShares Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket return is positive, the payout at maturity will be par plus the basket return. If the basket return is negative or zero, the payout will be par.
The issuer will record each basket component's return, compared to its initial level, on each of the averaging dates, which occur on Sept. 17 of each year beginning in 2013. It will then average these annual returns to arrive at the basket component return for that basket component. The basket return will be the average of the two basket component returns.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Notes
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Underlying basket: | S&P 500 index and iShares Emerging Markets index fund, equally weighted
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Amount: | $1.6 million
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Maturity: | Sept. 20, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus basket return; if basket return is negative or zero, par
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Basket return: | Average of index's and ETF's basket component returns
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Basket component return: | Average of basket component's seven annual returns, each measured from initial level
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Initial levels: | 1,461.19 for index and $41.91 for ETF
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Pricing date: | Sept. 17
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Settlement date: | Sept. 20
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Agent: | Barclays
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Fees: | 3.5%
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Cusip: | 06741TGD3
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