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Barclays plans buffered Super Track notes linked to indexes, ETFs
By Marisa Wong
Madison, Wis., Feb. 25 - Barclays Bank plc plans to price 0% buffered Super Track notes due 2019 linked to an equity basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 34.5% weight; the iShares MSCI EAFE index fund with a 9% weight; the Russell 2000 index and the PowerShares DB Commodity Index Tracking Fund with an 8% weight each; the iShares iBoxx $ Investment Grade Corporate Bond fund and the iShares MSCI Japan index fund with a 7% weight each; the Consumer Staples Select Sector SPDR fund, the iShares Dow Jones Select Dividend index fund and the iShares MSCI Emerging Markets index fund with a 5% weight each; the Health Care Select Sector SPDR fund and the PowerShares QQQ Trust, Series 1, with a 4% weight each; and the iShares Barclays Treasury Inflation Protected Securities Bond fund with a 3.5% weight.
The composition and the weighting of the basket components were selected by the Institute for Wealth Management, LLC. It will receive a 2% fee.
If the final basket level is greater than the initial basket level, the payout at maturity will be par plus the basket return.
If the final basket level is less than or equal to the initial basket level but greater than or equal to the threshold level, the payout will be par. The threshold level is expected to be 61% to 69% of the initial level and will be set at pricing.
If the final basket level is less than the threshold level, investors will lose 1% for every 1% that the basket declines beyond the threshold level.
Barclays is the agent.
The Cusip number is 06741TPM3.
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