Published on 10/22/2007 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $19.28 million Super Track Notes linked to commodities, indexes
By E. Janene Geiss
Philadelphia, Oct. 22 - Barclays Bank plc priced a $19,275,000 million issue of 0% Buffered Super Track Notes due Oct. 24, 2011 linked to a basket of commodities and indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes copper with a 20% weight; lead with a 15% weight; aluminum, zinc and gold, each with a 10% weight; the S&P GSCI Soybeans Index Excess Return, S&P GSCI Sugar Index and S&P GSCI Cotton Index Excess Return, each with a 10% weight; and the S&P GSCI Corn Index Excess Return with a 5% weight.
The payout at maturity will be par plus any basket gain multiplied by a participation rate of 218%. Investors will receive par if the index declines by 20% or less and will lose 1% for each 1% that the basket declines beyond 20%.
Barclays Capital Inc. will be the underwriter.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered Super Track Notes
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| Underlying commodities, indexes: | Copper (20% weight); lead (15% weight); aluminum, zinc and gold, (10% weight each); S&P GSCI Soybeans Index Excess Return, S&P GSCI Sugar Index and S&P GSCI Cotton Index Excess Return, (10% weight each); and S&P GSCI Corn Index Excess Return (5% weight)
|
| Amount: | $19,275,000 million
|
| Maturity: | Oct. 24, 2011
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | Par plus 218% of gain if basket increases; par if basket is flat or declines by up to 20%; share in any losses beyond 20%
|
| Initial prices, index levels: | $7,909.5 for copper; $3,830 for lead; $2.509,00 for aluminum; $2,970.5 for zinc; $763.00 for gold; 268.2302 for S&P GSCI Soybeans Index Excess Return; 17.44029 for S&P GSCI Sugar Index; 44.90717 for S&P GSCI Cotton Index Excess Return; and 14.20061 for S&P GSCI Corn Index Excess Return
|
| Pricing date: | Oct. 19
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| Settlement date: | Oct. 24
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| Underwriter: | Barclays Capital Inc.
|
| Fees: | 0%
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