Published on 6/28/2013 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.3 million annual autocallable notes on SPDR MidCap, Russell
By Susanna Moon
Chicago, June 28 - Barclays Bank plc priced $1.3 million of 0% annual autocallable notes due June 30, 2016 linked to the lesser performing of the SPDR S&P MidCap 400 ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 11.5% per year if both components close at or above their initial levels on any annual call date.
The payout at maturity will be par unless either component finishes below the trigger level, in which case investors will be fully exposed to any losses of the lesser performing component.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Annual autocallable notes
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Underlying components: | SPDR S&P MidCap 400 ETF and Russell 2000
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Amount: | $1,302,000
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Maturity: | June 30, 2016
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Coupon: | 0%
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Price: | Par
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Call: | Par plus annualized call premium of 11.5% if both components finish at or above their initial levels on June 30, 2014, June 29, 2015 and June 27, 2016
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Payout at maturity: | Par if lesser performing component finishes above trigger level; otherwise, full exposure to any losses
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Initial levels: | $207.09 for midcap fund, 966.26 for Russell 2000
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Barrier levels: | $165.67 for midcap fund, 769.01 for Russell 2000; 80% of initial price
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Pricing date: | June 25
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Settlement date: | June 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.25%
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Cusip: | 06741TWZ6
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