By Marisa Wong
Madison, Wis., Nov. 29 - Barclays Bank plc priced $100 million of 0% iPath Short Extended exchange-traded notes due Nov. 30, 2020 tied to the Russell 1000 Total Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The principal amount will be $50.
The payout at maturity or upon redemption will be based on a leveraged participation in the inverse performance of the index, less a daily investor fee, less a daily index borrow cost and plus daily interest.
The leverage factor is three. The investor fee rate is 0.5%, and the borrow rate is 1%. Daily interest is based on the 28-day Treasury bill rate.
The notes are putable at any time, subject to a minimum of 25,000 notes, and they will be called if the intraday indicative value of the notes falls below $10.
Barclays Capital Inc. is the agent.
Issuer: | Barclays Bank plc
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Issue: | iPath Short Extended exchange-traded notes
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Underlying index: | Russell 1000 Total Return index
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Amount: | $100 million
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Maturity: | Nov. 30, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Based on a leveraged participation in the inverse performance of the index, less a daily investor fee, less a daily index borrow cost and plus daily interest; leverage factor is three; fee rate is 0.5%; borrow rate is 1%; daily interest based on 28-day T-bill rate
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Put option: | At any time, subject to a minimum of 25,000 notes; payout determined in same way as at maturity
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Call: | Automatically if intraday indicative value falls below $10; payout determined in same way as at maturity
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Pricing date: | Nov. 29
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Settlement date: | Dec. 2
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Agent: | Barclays Capital Inc.
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Fees: | None
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Listing: | NYSE Arca: ROSA
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Cusip: | 06740P304
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