By Marisa Wong
Morgantown, W.Va., Aug. 14 – Barclays Bank plc priced $50 million principal amount of additional 0% iPath Bloomberg Cocoa Subindex Total Return exchange-traded notes due June 24, 2038 linked to the Bloomberg Cocoa Subindex Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $200 million. The issuer priced $25 million of the notes in June 2008, another $25 million in October 2009, a further $40 million in May 2012 and another $60 million in March.
The latest add-on – 1 million ETNs with a principal amount of $50 each – was sold at an aggregate market price of $24.49 million, based on a price of $24.49 per ETN, which is the average of the high and low prices reported on NYSE Arca on Aug. 7.
The payout at maturity will be par of $50 plus the index return minus the investor fee. The investor fee is initially zero and increases each day by an amount equal to 0.75% of par plus the index return on that day divided by 365.
The notes will be putable at any time, subject to a minimum of 50,000 securities. The payout will be calculated in the same way as the payout at maturity.
The notes are listed on the NYSE Arca under the symbol “NIB.”
Barclays is the agent.
| Issuer: | Barclays Bank plc
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| Issue: | iPath Bloomberg Cocoa Subindex Total Return exchange-traded notes
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| Underlying index: | Bloomberg Cocoa Subindex Total Return (re-branded in July 2014; previously Dow Jones – AIG Cocoa Total Return sub-index)
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| Amount: | $200 million, up from $25 million
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| Maturity: | June 24, 2038
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| Coupon: | 0%
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| Price: | Par of $50 at inception
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| Payout at maturity: | Par plus the index return and minus the investor fee, which is calculated on a daily basis and is equal to 0.75% of par plus the index return divided by 365
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| Put: | At any time, with payout determined in same way as payout at maturity; minimum redemption requirement of 50,000 notes
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| Pricing date: | June 24, 2008 for original $25 million
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| Settlement date: | June 27, 2008 for original $25 million; Oct. 21, 2009 for $25 million; May 17, 2012 for $40 million; March 3 for $60 million; Aug. 9 for $50 million
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| Agent: | Barclays
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| Fees: | None
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| Cusip: | 06739H313
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| Listing: | NYSE Arca: NIB
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