Published on 1/15/2014 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.74 million SuperTrack notes linked to refinery stocks
By Angela McDaniels
Tacoma, Wash., Jan. 15 - Barclays Bank plc priced $1.74 million of 0% SuperTrack notes due Feb. 19, 2015 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket stocks are Marathon Petroleum Corp., Tesoro Corp. and Valero Energy Corp.
If the final basket level is greater than the initial basket level, the payout at maturity will be par plus 1.5 times the basket return, subject to a maximum return of 20.5%.
If the final basket level is less than or equal to the initial basket level but greater than or equal to the barrier level, the payout will be par. The barrier level is 80% of the initial level.
If the final basket level is less than the barrier level, investors will lose 1% for every 1% that the final basket level is below the initial basket level.
Barclays is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | SuperTrack notes
|
| Underlying stocks: | Marathon Petroleum Corp. (NYSE: MPC), Tesoro Corp. (NYSE: TSO) and Valero Energy Corp. (NYSE: VLO), equally weighted
|
| Amount: | $1,741,000
|
| Maturity: | Feb. 19, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final basket level is greater than initial basket level, par plus 1.5 times basket return, subject to 20.5% maximum return; if final basket level is less than or equal to initial basket level but greater than or equal to barrier level, par; if final basket level is less than barrier level, 1% loss for every 1% that final basket level is below initial basket level
|
| Initial share prices: | $88.16 for Marathon, $54.81 for Tesoro and $51.49 for Valero
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 16
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 06741T4P9
|
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