Published on 3/7/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $38.61 million return enhanced notes linked to S&P 500 index via JPMorgan
By Toni Weeks
San Diego, March 7 - Barclays Bank plc priced $38.61 million 0% return enhanced notes due March 21, 2012 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 index gain, up to a maximum return of 18.28%.
Investors will be fully exposed to any decline in the index.
JPMorgan Chase Bank, NA and JPMorgan Securities LLC are the agents.
Issuer: | Barclays Bank plc
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Issue: | Return enhanced notes
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Underlying index: | S&P 500
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Amount: | $38,613,000
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Maturity: | March 21, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any index gain, capped at 18.28%; exposure to any index decline
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Initial index level: | 1,321.15
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Final index level: | Average of index's closing levels on the five trading days ending March 16, 2012
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Pricing date: | March 4
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Settlement date: | March 9
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Agents: | JPMorgan Chase Bank, NA and JPMorgan Securities LLC
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Fees: | 1%
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Cusip: | 06738KDW8
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