Published on 12/1/2009 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $1.01 million 95% protected notes linked to currency basket via JPMorgan
By Susanna Moon
Chicago, Dec. 1 - Barclays Bank plc priced $1.01 million of zero-coupon 95% principal-protected notes due Dec. 2, 2011 based on the performance of a basket of four equally weighted currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc. are the agents.
The underlying currencies are the Australian dollar, Brazilian real, Canadian dollar and Norwegian krone.
The payout at maturity per $1,000 principal amount will be $950 plus 1.52 times any gain in the basket, up to a maximum return of 17.8%.
Investors will receive at least $950.
Issuer: | Barclays Bank plc
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Issue: | 95% principal-protected notes
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Underlying currencies: | Australian dollar, Brazilian real, Canadian dollar and Norwegian krone, equally weighted and each versus U.S. dollar
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Amount: | $1,009,000
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Maturity: | Dec. 2, 2011
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | 95% of par plus 152% of any basket gain, capped at 17.8%; floor of 95% of par
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Initial exchange rates: | 1.10029 for Australian dollar, 1.74430 for real, 1.06090 for Canadian dollar and 5.66800 for krone
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Pricing date: | Nov. 27
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Settlement date: | Dec. 2
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
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Fees: | 1.5%
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