Published on 5/28/2008 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $67.82 million return enhanced notes linked to 11 stocks via JPMorgan
By Angela McDaniels
Tacoma, Wash., May 28 - Barclays Bank plc priced $67.82 million of 0% return enhanced notes due June 11, 2010 linked to a basket of stocks via underwriters JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes the American Depositary Shares of Cemex, SAB de CV and Siemens AG and the common stocks of 3M Co., AGCO Corp., Corning Inc., Deere & Co., Dover Corp., Illinois Tool Works Inc., Textron Inc., Tyco International Ltd. and United Technologies Corp.
The payout at maturity will be par plus 300% of any basket gain, subject to a maximum return of 33.15%. Investors will be fully exposed to any basket decline.
| Issuer: | Barclays Bank plc
|
| Issue: | Return enhanced notes
|
| Underlying stocks: | 3M Co., AGCO Corp., Cemex, SAB de CV, Corning Inc., Deere & Co, Dover Corp., Illinois Tool Works Inc., Siemens AG, Textron Inc., Tyco International Ltd. and United Technologies Corp.
|
| Amount: | $67,824,000
|
| Maturity: | June 11, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any basket gain, capped at maximum return of 33.15%; full exposure to any basket decline
|
| Initial share prices: | $75.81 for 3M, $57.85 for AGCO, $30.81 for Cemex, $27.05 for Corning, $80.42 for Deere, $52.21 for Dover, $52.46 for Illinois Tool Works, $113.42 for Siemens, $60.52 for Textron, $45.03 for Tyco and $70.01 for United Technologies
|
| Final share prices: | For each stock, the average of its closing prices on June 2, June 3, June 4, June 7 and June 8 of 2010
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
|
| Fees: | 1%
|
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