Published on 12/18/2008 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.5 million Buffered Super Track Notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Dec. 18 - Barclays Bank plc priced $1.5 million of 0% Buffered Super Track Notes due Dec. 23, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, subject to a maximum return of 23%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Buffered Super Track Notes
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Underlying index: | S&P 500
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Amount: | $1.5 million
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Maturity: | Dec. 23, 2009
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any index gain, up to maximum return of 23%; par if index falls by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial index level: | 904.42
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Pricing date: | Dec. 17
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Settlement date: | Dec. 22
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Agent: | Barclays Capital Inc.
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Fees: | 3%
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