Barclays to price Knock-Out Buffered Super Track Notes linked to GE

By E. Janene Geiss

Philadelphia, May 1 - Barclays Bank plc plans to price 0% Knock-Out Buffered Super Track Notes due May 11, 2010 linked to the common stock of General Electric Co., according to an FWP filing with the Securities and Exchange Commission.

If General Electric stock closes above the knock-out barrier - 140% of the initial price - on any day during the life of the notes, the payout at maturity will be par plus the knock-out rebate of 15%.

If the share price remains at or below the knock-out barrier but above the initial price, investors will receive par plus any gain.

Investors will receive par if the stock falls by up to 20% and will lose 1% for each 1% decline beyond 20%.

The notes will price on May 7 and settle on May 12.

Barclays Capital Inc. is the agent.

© 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.