By Angela McDaniels
Seattle, Oct. 23 - Barclays Bank plc priced $250 million of 0% iPath exchange-traded notes due Oct. 22, 2037 linked to the Dow Jones - AIG Livestock Total Return, according to a 424B3 filing with the Securities and Exchange Commission.
The index is a subindex of the Dow Jones - AIG Commodity index, and its level is calculated based on futures contracts for lean hogs and live cattle plus the interest rate that could be earned on cash collateral invested in selected Treasury bills.
The notes are putable through Oct. 15, 2037. The payout will be par of $50 plus the index return and minus an investor fee.
The fee is equal to 0.75% of par per year multiplied by the index factor, which is equal to the closing level of the index each day divided by the initial index level. The fee will be calculated on a daily basis, and upon redemption, investors will receive the payout minus the sum of the investor fee for each day since the notes were issued.
The payout at maturity will be calculated in the same manner.
The company will apply to list the notes on the NYSE Arca stock exchange under the symbol "COW."
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | iPath exchange-traded notes
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Underlying index: | Dow Jones - AIG Livestock Total Return
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Amount: | $250 million
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Maturity: | Oct. 22, 2037
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Coupon: | 0%
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Price: | Par of $50
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Payout at maturity: | Par plus the index return and minus the investor fee, which is calculated on a daily basis and is equal to 0.75% of par per year, multiplied by the index factor divided by 365
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Put: | Through Oct. 15, 2037, with payout determined in same way as payout at maturity; minimum redemption requirement of 50,000 notes
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Pricing date: | Oct. 23
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Agent: | Barclays Capital Inc.
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Fees: | 0%
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