Published on 5/22/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $18.25 million buffered return notes linked to S&P 500
By Susanna Moon
Chicago, May 22 - Barclays Bank plc priced $18.25 million of 0% buffered return enhanced notes due June 5, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the index, up to a maximum return of 12.2%.
Investors will receive par if the index declines by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
Barclays Capital Inc. is the agent, and J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the dealers.
Issuer: | Barclays Bank plc
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Issue: | Buffered return enhanced notes
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Underlying index: | S&P 500
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Amount: | $18.25 million
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Maturity: | June 5, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 12.2%; par if index falls by up to 10%; 1.1111% loss for every 1% decline beyond 10%
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Initial level: | 1,295.22
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Pricing date: | May 18
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Settlement date: | May 23
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Agent: | Barclays Capital Inc., with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers
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Fees: | 1%
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Cusip: | 06738K5T4
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