Published on 5/22/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.06 million knock-out buffered notes linked to stocks
By Angela McDaniels
Tacoma, Wash., May 22 - Barclays Bank plc priced $1.06 million of 0% capped knock-out buffered notes due Nov. 20, 2013 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of Caterpillar Inc., Chicago Bridge & Iron Co. NV, Cummins Inc., Deere & Co., Dow Chemical Co., E.I. du Pont de Nemours and Co., Fluor Corp., General Electric Co., NextEra Energy, Inc., Nucor Corp., Rock-Tenn Co., Rockwood Holdings, Inc., United Parcel Service, Inc., Union Pacific Corp. and Wesco International Inc.
If the final basket level has decreased from the initial level by more than 25%, investors will be fully exposed to the basket decline. Otherwise, the payout at maturity will be par plus the greater of the basket return and 3.5%.
Barclays Capital Inc. is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are dealers.
| Issuer: | Barclays Bank plc
|
| Issue: | Knock-out buffered notes
|
| Underlying stocks: | Caterpillar Inc., Chicago Bridge & Iron Co. NV, Cummins Inc., Deere & Co., Dow Chemical Co., E.I. du Pont de Nemours and Co., Fluor Corp., General Electric Co., NextEra Energy, Inc., Nucor Corp., Rock-Tenn Co., Rockwood Holdings, Inc., United Parcel Service, Inc., Union Pacific Corp. and Wesco International Inc., equally weighted
|
| Amount: | $1,055,000
|
| Maturity: | Nov. 20, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final basket level has decreased from initial level by more than 25%, full exposure to basket decline; otherwise, par plus greater of basket return and 3.5%
|
| Pricing date: | May 18
|
| Settlement date: | May 23
|
| Agent: | Barclays Capital Inc.
|
| Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 06738K5V9
|
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