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Barclays plans buffered return enhanced notes tied to commodity basket
By Angela McDaniels
Tacoma, Wash., Feb. 7 - Barclays Bank plc plans to price 0% buffered return enhanced notes due Feb. 13, 2014 linked to the performance of a commodity basket, according to an FWP filing with the Securities and Exchange Commission.
The equally weighted basket includes Brent crude oil, platinum, copper and the S&P GSCI Grains Index Excess Return.
The payout at maturity will be par plus 1.51 times any increase in the basket, subject to a maximum return of 22.65%. Investors will receive par if the basket declines by 20% or less and will lose 1.25% for every 1% that the basket declines beyond 20%.
The notes (Cusip: 06738KP39) are expected to price Feb. 10 and settle Feb. 15.
Barclays Capital Inc. is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as dealers.
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