By Angela McDaniels
Tacoma, Wash., Aug. 21 - Barclays Bank plc priced $690,000 of 0% market plus notes due Feb. 26, 2014 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is comprised of equal weights of the Materials Select Sector SPDR fund, the Industrial Select Sector SPDR fund and the Energy Select Sector SPDR fund.
If the basket closes below the barrier level, 70% of the initial basket level, on any day during the life of the notes, the payout at maturity will be par plus the basket return, with full exposure to any losses.
If the basket never closes below the barrier level, investors will receive par plus the basket return, subject to a floor of par.
Barclays is the agent, and J.P. Morgan Chase Bank, NA and JPMorgan Securities LLC are dealers.
| Issuer: | Barclays Bank plc
|
| Issue: | Market plus notes
|
| Underlying ETFs: | Materials Select Sector SPDR fund, Industrial Select Sector SPDR fund and Energy Select Sector SPDR fund, equally weighted
|
| Amount: | $690,000
|
| Maturity: | Feb. 26, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket's closing level remains at or above barrier level throughout life of notes, par plus greater of zero and basket return; otherwise, par plus basket return with full exposure to losses, if any
|
| Initial share prices: | $36.24 for materials ETF; $37.18 for industrial ETF; $72.57 for energy ETF
|
| Barrier level: | 70% of initial basket level
|
| Pricing date: | Aug. 17
|
| Settlement date: | Aug. 22
|
| Agent: | Barclays
|
| Dealers: | J.P. Morgan Chase Bank, NA and JPMorgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 06741TEL7
|
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