Published on 2/28/2011 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $4.18 million buffered Super Track notes on commodity basket
By Susanna Moon
Chicago, Feb. 28 - Barclays Bank plc priced $4.18 million of zero-coupon buffered Super Track notes due Aug. 29, 2012 linked to a basket of 10 commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of WTI crude with a 15% weight, gasoline RBOB with a 10% weight, heating oil with a 10% weight, copper with a 10% weight, nickel with a 10% weight, gold with a 10% weight, corn with an 8.75% weight, cotton with an 8.75% weight, soybeans with an 8.75% weight and sugar with an 8.75% weight.
The payout at maturity will be par plus double any basket gain, up to a maximum return of 27.5%.
Investors will receive par if the basket falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered Super Track notes
|
| Underlying commodities: | WTI crude (15% weight), gasoline RBOB (10% weight), heating oil (10% weight), copper (10% weight), nickel (10% weight), gold (10% weight), corn (8.75% weight), cotton (8.75% weight), soybeans (8.75% weight) and sugar (8.75% weight)
|
| Amount: | $4,182,000
|
| Maturity: | Aug. 29, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any basket gain, capped at 27.5%; 1% loss per 1% drop beyond 10%
|
| Initial prices: | $97.28 for WTI crude, $2.7167 for gasoline, $2.8773 for heating oil, $9,440 for copper, $27,680 for nickel, $1,411.50 for gold, 696.50 cents for corn, 177.23 cents for cotton, 1,329.25 cents for soybeans and 27.83 cents for sugar
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 28
|
| Agent: | Barclays Capital Inc.
|
| Fees: | 1.5%
|
| Cusip: | 06738KCP4
|
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