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Barclays plans contingent return optimization notes linked to Russell
By Toni Weeks
San Diego, March 2 - Barclays Bank plc plans to price 0% contingent return optimization securities due March 20, 2013 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is at least 75% of the initial index level, the payout at maturity will be par of $10 plus the index return, subject to a minimum return of 10% and a maximum return of 26% to 32%. The exact cap will be set at pricing.
If the final index level is less than 75% of the initial level, investors will be fully exposed to the index decline.
The securities (Cusip: 06741K304) will price on March 14 and settle on March 17.
Barclays Capital Inc. and UBS Financial Services Inc. will act as agents.
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