Published on 8/21/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $4.83 million capped market plus notes linked to gold
By Angela McDaniels
Tacoma, Wash., Aug. 21 - Barclays Bank plc priced $4.83 million of 0% capped market plus notes due Aug. 28, 2013 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the final price of gold is greater than or equal to the barrier level, the payout at maturity will be par plus the greater of the gold return and 5%, subject to a maximum return of 17.55%. The barrier level is 90% of the initial price of gold.
If the final price of gold is less than the barrier level, investors will be fully exposed to the decline from the initial price.
Barclays Capital Inc. is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are dealers.
Issuer: | Barclays Bank plc
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Issue: | Capped market plus notes
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Underlying commodity: | Gold
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Amount: | $4,829,000
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Maturity: | Aug. 28, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final gold price is greater than or equal to barrier level, par plus greater of gold return and 5%, subject to maximum return of 17.55%; otherwise, full exposure to gold decline
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Initial price: | $1,614.75
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Barrier level: | $1,453.28, 90% of initial price
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Pricing date: | Aug. 17
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Settlement date: | Aug. 22
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Agent: | Barclays Capital Inc.
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Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 06741TEE3
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