Published on 10/4/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $430,000 20% callable yield notes tied to indexes, fund
By Susanna Moon
Chicago, Oct. 4 - Barclays Bank plc priced $430,000 of 20% annualized callable yield notes due Oct. 3, 2012 linked to the S&P 500 index, the Russell 2000 index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any interest payment date in April 2012 or July 2012.
The payout at maturity will be par unless any index or fund finishes at or below its knock-in level - 67.5% of its initial level - in which case investors will receive par plus the return of the worst-performing component, up to a maximum payout of par.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Callable yield notes
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Underlying components: | S&P 500 index, Russell 2000 index and United States Oil Fund, LP
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Amount: | $430,000
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Maturity: | Oct. 3, 2012
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Coupon: | 20%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any component finishes at or below knock-in barrier, in which case par plus return of worst-performing component, up to maximum of par
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Call option: | At par on any interest payment date in April 2012 or July 2012
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Initial levels: | 1,131.42 for S&P 500, 644.15 for Russell 2000, $30.50 for oil fund
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Knock-in levels: | 763.71 for S&P 500, 434.80 for Russell 2000, $20.59 for oil fund; 67.5% of initial levels
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Agent: | Barclays Capital Inc.
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Fees: | None
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Cusip: | 06738KWB3
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