Barclays plans to price notes tied to gold with 18.5% cap, 15% buffer

By Marisa Wong

Madison, Wis., March 8 - Barclays Bank plc plans to price 0% notes due March 20, 2013 linked to the performance of gold, according to an FWP filing with the Securities and Exchange Commission.

If the final price of gold is greater than the initial price, the payout at maturity will be par plus the gold return, subject to a maximum return of at least 18.5%. The exact cap will be set at pricing.

Investors will receive par if the price of gold declines by 15% or less and will be fully exposed to the decline if the price falls by more than 15%.

The notes (Cusip: 06738KX22) will price on March 9 and settle on March 14.

Barclays Capital Inc. is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.