Published on 6/29/2010 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $2.72 million knock-in Super Track notes linked to S&P 500
By Susanna Moon
Chicago, June 29 - Barclays Bank plc priced $2.72 million of 0% knock-in Super Track notes due June 28, 2013 based on the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any gain in the index, up to a maximum return of 39.15%.
Investors will receive par if the index falls by up to 50% and will receive par plus the index return if it declines beyond 50%.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Knock-in Super Track notes
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Underlying index: | S&P 500
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Amount: | $2.72 million
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Maturity: | June 28, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at 39.15%; exposure to index decline if it drops beyond 50%
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Initial level: | 1,076.76
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Knock-in barrier: | 538.38, or 50% of the initial level
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | Barclays Capital Inc.
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Fees: | 2.5%
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Cusip: | 06740PAQ9
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