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Barclays plans trigger PLUS with 30%-34% cap linked to commodities
By Susanna Moon
Chicago, April 9 - Barclays Bank plc plans to price 0% trigger Performance Leveraged Upside Securities due Nov. 4, 2014 linked to a basket of six commodities, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of Brent blend crude oil with a 25% weight, copper with a 20% weight, corn with a 15% weight, gold with a 15% weight, soybeans with a 15% weight and gasoline RBOB with a 10% weight.
The payout at maturity will be par plus triple any basket gain, up to a maximum payout of $1,300 to $1,340 per $1,000 principal amount. The exact cap will be set at pricing.
Investors will receive par if the basket falls by up to 10% and will be fully exposed to any losses if the basket falls below the 90% trigger level.
Barclays is the agent with Morgan Stanley Smith Barney LLC as the dealer.
The notes will price on April 30 and settle on May 3.
The Cusip number is 06741TSL2.
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