By Angela McDaniels
Seattle, Oct. 19 - Barclays Bank plc priced an additional $250 million of its 0% iPath exchange-traded notes due Dec. 18, 2036 linked to the MSCI India Total Return index, according to a 424B3 filing with the Securities and Exchange Commission.
The company originally priced $500 million of the notes on Dec. 19, 2006 and $250 million more on May 8. The total amount of notes priced is now $1 billion.
The MSCI India Total Return index is a free float-adjusted market capitalization index that includes the top 62 companies by market capitalization listed on the National Stock Exchange of India.
The payout at maturity will be par of $50 multiplied by the index factor, which is the final index level divided by the initial index level, minus the investor fee. The investor fee is calculated on a daily basis and is equal to 0.89% of par per year, multiplied by the index factor divided by 365.
The notes are putable on any redemption day - the third business day following a valuation date - during the life of the notes for a cash payment equal to par multiplied by the index factor on the valuation date, minus the investor fee and less a redemption charge equal to 0.00125 multiplied by the redemption value. There is a minimum redemption requirement of 50,000 notes.
The valuation dates fall on Thursday of each week during the life of the securities, and the final valuation date is Dec. 11, 2036.
The notes are listed on the New York Stock Exchange under the symbol "INP."
Barclays Capital Inc. is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | iPath exchange-traded notes
|
| Underlying index: | MSCI India Total Return
|
| Amount: | $1 billion, upsized from $500 million
|
| Maturity: | Dec. 18, 2036
|
| Coupon: | 0%
|
| Price: | Par of $50
|
| Payout at maturity: | Par multiplied by the index factor, which is the final index level divided by the initial index level, minus an investor fee equal to 0.89% of par per year, multiplied by the index factor divided by 365
|
| Put: | Weekly for par multiplied by the index factor minus the investor fee and less a redemption charge equal to 0.00125 multiplied by the redemption value
|
| Pricing date: | Dec. 19 for first tranche, May 8 for second tranche; Oct. 17 for third tranche
|
| Settlement date: | Dec. 22 for first tranche; May 11 for second tranche; Oct. 19 for third tranche
|
| Agent: | Barclays Capital
|
| Listing: | NYSE: INP
|
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