Published on 11/12/2009 in the Prospect News Structured Products Daily.
New Issue: Barclays upsizes floaters linked to Consumer Price Index to $18.89 million
By Jennifer Chiou
New York, Nov. 12 - Barclays Bank plc upsized its floating-rate notes due Nov. 24, 2014 linked to changes in the Consumer Price Index to $18.89 million from $11.26 million, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 4% for the first year. After that, interest will be 1.5 times the change in the CPI, subject to a cap of 7% and a floor of 0%. Interest is payable monthly.
The payout at maturity will be par.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | Floating-rate notes
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Underlying index: | Consumer Price Index
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Amount: | $18,886,000 (upsized from $11,255,000)
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Maturity: | Nov. 24, 2014
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Coupon: | 4% for first year; thereafter, 1.5 times the change in the CPI, subject to a cap of 7% and a floor of 0%; payable monthly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | Oct. 29 for original $11,255,000; Nov. 10 for $7,631,000
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Settlement date: | Nov. 24
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Agent: | Barclays Capital Inc.
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Fees: | 1.5%
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