Published on 1/17/2012 in the Prospect News Structured Products Daily.
New Issue: Barclays tweaks payout of $3.23 million capped market plus notes linked to commodities
By Angela McDaniels
Tacoma, Wash., Jan. 17 - Barclays Bank plc made a small change to the payout at maturity of its $3.23 million of 0% capped market plus notes due July 16, 2013 linked to a commodity basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of Brent crude oil, platinum, copper and the S&P GSCI Grains Index Excess Return.
If the basket return is greater than or equal to negative 20%, the payout at maturity will be par plus the greater of the basket return and 7.3%, subject to a maximum return of 20%. Before the change, the basket return had to be greater than negative 20%, not just equal to.
If the basket return is less than negative 20%, investors will be fully exposed to the decline.
Barclays Capital Inc. is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are dealers.
| Issuer: | Barclays Bank plc
|
| Issue: | Capped market plus notes
|
| Underlying basket: | Brent crude, platinum, copper and the S&P GSCI Grains Index Excess Return, equally weighted
|
| Amount: | $3,225,000
|
| Maturity: | July 16, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is greater than or equal to negative 20%, par plus greater of basket return and 7.3%, subject to maximum return of 20%; otherwise, full exposure to basket decline
|
| Initial levels: | $112.24 for Brent crude, $1,489.00 for platinum, $7,689.50 for copper and 41.51676 for S&P GSCI Grains
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 17
|
| Agent: | Barclays Capital Inc.
|
| Dealers: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 06738KG96
|
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