By Angela McDaniels
Tacoma, Wash., June 16 - Barclays Bank plc priced $1 million of 0% Knock-Out Buffered Super Track Notes due June 16, 2010 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
If JPMorgan stock closes above the knock-out barrier - 140% of the initial share price - on any day during the life of the notes, the payout at maturity will be par plus 9.5%.
Otherwise, the payout will be:
• Par plus any share price gain;
• Par if the share price declines by 20% or less; or
• Par minus 1% for every 1% decline beyond 20% or, at Barclays' option, a number of JPMorgan shares with an equivalent value.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Knock-Out Buffered Super Track Notes
|
| Underlying stock: | JPMorgan Chase & Co. (Symbol: JPM)
|
| Amount: | $1 million
|
| Maturity: | June 16, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If JPMorgan stock closes above the knock-out barrier during the life of the notes, par plus 9.5%; otherwise, par plus any share price gain, par if the share price falls by 20% or less or par minus 1% for every 1% decline beyond 20% (or a number of shares with an equivalent value)
|
| Initial share price: | $35.13
|
| Knock-out barrier: | $49.18, 140% of initial share price
|
| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 2.5%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
