Published on 9/22/2009 in the Prospect News Structured Products Daily.
New Issue: Barclays sells $14.56 million notes tied to five Asian indexes via JPMorgan
By E. Janene Geiss
Philadelphia, Sept. 22 - Barclays Bank plc priced $14.56 million of 0% knock-out buffered notes due March 24, 2011 linked to a basket of indexes, 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 basket includes the Hang Seng China Enterprises index with a 33% weight, the Korea Composite Stock Price Index 200 with a 24% weight, the MSCI Taiwan index with a 21% weight, the Hang Seng index with a 14% weight and the MSCI Singapore index with an 8% weight.
If any basket index closes below its knock-out buffer level - 65% of the initial level - during the life of the notes, the payout at maturity will be par plus the basket return. Otherwise, the payout will be par plus the basket return, subject to a floor of par.
| Issuer: | Barclays Bank plc
|
| Issue: | Knock-out buffered notes
|
| Underlying indexes: | Hang Seng China Enterprises index (33% weight), Korea Composite Stock Price Index 200 (24% weight), MSCI Taiwan index (21% weight), Hang Seng index (14% weight) and MSCI Singapore index (8% weight)
|
| Amount: | $14.56 million
|
| Maturity: | March 24, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus basket return if any index declines by more than 25% during life of notes; otherwise, par plus basket return with a floor of par
|
| Initial index levels: | 12,614.57 for Hang Seng China Enterprises; 222.34 for Kospi 200; 275.52 for MSCI Taiwan; 21,623.45 for Hang Seng; 318.04 for MSCI Singapore
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 23
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
|
| Fees: | 1.25%
|
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