By Jennifer Chiou
New York, May 23 - Barclays Bank plc priced a $250 million issue of iPath exchange-traded notes due May 28, 2037 linked to the CBOE S&P 500 Buy Write (BXM) index, according to a 424B3 filing with the Securities and Exchange Commission.
Holders may redeem the notes on any redemption date - the third business day after each Thursday - during the life of the notes. The payout will be par of $50.00 plus any gain or loss on the index, 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.
Barclays said it will apply to list the notes on the American Stock Exchange under the symbol "BWV."
Barclays Capital is the agent.
| Issuer: | Barclays Bank plc
|
| Issue: | iPath exchange-traded notes
|
| Underlying index: | CBOE S&P 500 Buy Write (BXM) index
|
| Amount: | $250 million
|
| Maturity: | May 28, 2037
|
| Coupon: | 0%
|
| Price: | Par of $50.00
|
| Payout at maturity: | Par of $50.00 multiplied by the index factor, which is equal to the closing level of the index each day divided by the initial index level, minus a fee of 0.75% of par per year times the index factor; the fee will be calculated on a daily basis
|
| Put: | On any redemption date during the life of the notes for a cash payment calculated in the same manner as the payout at maturity
|
| Pricing date: | May 22
|
| Settlement date: | May 25
|
| Agent: | Barclays Capital Inc.
|
| Fees: | None
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
