Barclays plans quarterly review notes linked to S&P GSCI Crude Oil

By Angela McDaniels

Tacoma, Wash., Nov. 23 - Barclays Bank plc plans to price 0% quarterly review notes due Dec. 21, 2011 linked to the S&P GSCI Crude Oil Excess Return index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called if the average of the index's closing levels for the five days ending on a quarterly review date is 102.5% or more of the initial index level. The redemption amount will be par plus an annualized call premium of 20.1%.

The review dates are Feb. 28, May 31, 2011, Aug. 30, 2011 and Dec. 14, 2011.

If the notes are not called, the payout at maturity will be par if the final index level is at least 90% of the initial level. Investors will lose 1.11111% for every 1% that the index declines beyond 10%.

The notes (Cusip 06740PR32) are expected to price Nov. 30 and settle Dec. 7.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

© 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.