Published on 3/11/2008 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $14.33 million buffered return enhanced notes tied to Asian indexes via JPMorgan
By Angela McDaniels
Tacoma, Wash., March 11 - Barclays Bank plc priced $14.33 million of 0% buffered return enhanced notes due March 20, 2009 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the FTSE/Xinhua China 25 index with a 29% weight, the Kospi 200 index with a 26% weight, the MSCI Taiwan index with a 19% weight, the Amex Hong Kong 30 index with an 18% weight and the MSCI Singapore Free index with an 8% weight.
The payout at maturity will be par plus double any basket gain, subject to a maximum return of 22.04%. Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% basket decline beyond 10%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.
| Issuer: | Barclays Bank plc
|
| Issue: | Buffered return enhanced notes
|
| Underlying indexes: | FTSE/Xinhua China 25 (29% weight), Kospi 200 (26% weight), MSCI Taiwan (19% weight), Amex Hong Kong 30 (18% weight) and MSCI Singapore Free (8% weight)
|
| Amount: | $14,329,000
|
| Maturity: | March 20, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any basket gain, capped at 22.04% maximum return; par if basket falls by 10% or less; 1.1111% loss for each 1% decline beyond 10%
|
| Initial index level: | 1,157.16 for Amex Hong Kong 30; 20,441.73 for FTSE/Xinhua China 25; 210.57 for Kospi 200; 331.25 for MSCI Taiwan; 352.96 for MSCI Singapore
|
| Final index levels: | For each index, the average of its closing levels on the five trading days ending March 17, 2009
|
| Pricing date: | March 7
|
| Settlement date: | March 12
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
|
| Fees: | 1%
|
© 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.
