Barclays plans to price notes tied to basket of commodity indexes

By Toni Weeks

San Diego, June 29 - Barclays Bank plc plans to price notes due July 31, 2017 linked to a basket of 10 commodity indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the S&P GSCI Wheat Index Excess Return, the S&P GSCI Soybean Index Excess Return, the S&P GSCI Silver Index Excess Return, the S&P GSCI Unleaded Gasoline Index Excess Return, the S&P GSCI Corn Index Excess Return, the S&P GSCI Gold Index Excess Return, the S&P GSCI Copper Index Excess Return, the S&P GSCI Brent Crude Index Excess Return, the S&P GSCI Zinc Index Excess Return and the S&P GSCI Natural Gas Index Excess Return.

The notes will pay a coupon each year equal to the greater of (a) the average of the index performances on the applicable coupon observation date and (b) 0.5%.

If an index's return is greater than or equal to zero, its performance will be equal to the return cap. Otherwise, an index's performance will be the greater of its return and negative 20%. The return cap will be between 7.5% and 9.5% and will be set at pricing.

The payout at maturity will be par plus the final coupon payment.

The notes (Cusip: 06741TCD7) will price July 26 and settle July 31.

Barclays Capital Inc. is the agent.

© 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.