Published on 2/1/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $14.75 million Capped Leveraged Index Return Notes linked to gold
New York, Feb. 1 - Barclays Bank plc priced $14.75 million of 0% Capped Leveraged Index Return Notes due Feb. 3, 2015 tied to the Gold spot price index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return is positive, the payout at maturity will be par plus 200% of the gold return, subject to a maximum payout of par plus 15.8%. Investors will receive par if the gold spot price falls by up to 5% and will lose 1% for every 1% decline in the gold spot price beyond 5%.
Merrill Lynch & Co. is the underwriter.
Issuer: | Barclays Bank plc
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Issue: | Capped Leveraged Index Return Notes
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Underlying asset: | Gold spot price
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Amount: | $14,747,030
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Maturity: | Feb. 3, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return is positive, par plus 200% of gold price return, subject to maximum payout of par plus 15.8%; par if gold spot price falls by up to 5%; 1% loss for every 1% decline beyond 5%
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Initial index level: | 1,677.50
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Pricing date: | Jan. 30
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Settlement date: | Feb. 6
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Underwriters: | Merrill Lynch & Co.
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Fees: | 2%
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Cusip: | 06742A230
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