Published on 2/20/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $695,000 protected return enhanced notes tied to basket of four currencies
By Toni Weeks
San Luis Obispo, Calif., Feb. 20 - Barclays Bank plc priced $695,000 of 0% return enhanced notes due Feb. 27, 2014 linked to a basket of four equally weighted currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying currencies are the Polish zloty, Mexican peso, Indonesian rupiah and Korean won.
The payout at maturity will be par plus 1.53 times any gain in the basket.
Investors will be exposed to losses of up to 10%, with a minimum payout of 90% of par.
Barclays is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as dealers.
| Issuer: | Barclays Bank plc
|
| Issue: | Return enhanced notes
|
| Underlying basket components: | Polish zloty, Mexican peso, Indonesian rupiah and Korean won
|
| Amount: | $695,000
|
| Maturity: | Feb. 27, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 153% of any appreciation in the basket; exposure to losses of up to 10%, minimum payout of 90% of par
|
| Initial spot rates: | 3.14492 for zloty, 12.683 for peso, 9,681 for rupiah and 1,079 for won
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 21
|
| Agent: | Barclays with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as dealers
|
| Fees: | 1%
|
| Cusip: | 06741TPD3
|
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